AP Exhaust Technologies to Acquire International Muffler Company (IMCO)
GOLDSBORO, N.C., Sept. 13, 2013 /PRNewswire/ -- AP Exhaust Technologies, Inc. ("AP Exhaust") of Goldsboro, NC, a leader in replacement exhaust and emissions products, announced today that it has entered into a definitive agreement to acquire certain assets of International Muffler Company ("IMCO").
Based in Loudon, TN, IMCO is a manufacturer of replacement exhaust and emissions products marketed most notably under the IMCO®, Maremont®, and Cherry Bomb® brands.
"AP Exhaust's integrated production capabilities, excellent service levels, complete product offering, and nationwide distribution reach will provide our customers with an excellent partner to support their growth," commented Kenneth Banks, President and Owner of IMCO. "We believe that this is the right long term plan for our customers."
Vange Proimos, President and Chief Executive Officer of AP Exhaust, said, "This acquisition supports our objectives of growth and expansion of our product offering to serve our customers. It also adds several well-known brands to our portfolio and expands our customer base and channels. We look forward to working with the customers that have been supportive of IMCO for so many years."
Founded in 1927, AP Exhaust manufactures a complete line of OE replacement and performance exhaust and emissions products for automotive, light truck, heavy-duty, agricultural, and industrial markets. AP Exhaust's product offering includes high quality mufflers, exhaust pipes, catalytic converters, performance exhaust and related accessories.
Terms of the transaction were not disclosed. Angle Advisors acted as exclusive financial advisor to AP Exhaust in completing this transaction.
300 Dixie Trail, Goldsboro NC 27530
SOURCE AP Exhaust Technologies, Inc.
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