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Stout 

January, 2017 - Michigan

 

 

Stout Advises on Sale of AGS Company

 

Stout announced today that its client, American Grease Stick Company (d/b/a AGS), has been acquired by 3 Rivers Capital, LLC (3RC). Stout served as exclusive financial advisor to AGS in connection with this transaction.

AGS, founded in 1931, is the leading manufacturer of branded automotive fluid transfer lines and related products to the automotive aftermarket. The company, headquartered in Muskegon, Michigan with operations in the U.S. and U.K., sells to a world-class base of customers that include all of the largest aftermarket retailers, such as Advance Auto Parts, AutoZone, and Pep Boys, national hardware retailers, and a diversified mix of wholesalers and national, regional, and program group distributors. “We are excited about our partnership with 3RC. With their strategic support and capital, AGS can continue to be innovators in the market place while maintaining the highest level of service for our customers,” said Logan Pitts, President of AGS.

Rob Carskadden, a Managing Director of 3RC, added “We are pleased with the outcome of the transaction. The AGS management team is very passionate about their business and we are extremely thrilled of the possibilities. We look forward to working with them.”

Michael Benson, Managing Director at Stout, led the execution of the transaction. Mr. Benson added, “AGS has strong brand recognition and a long and rich history of product innovation in the industry. It was a pleasure working with the AGS team on this significant transaction.” Jeff Shippy, Director, and Eric Ng, Associate, assisted Mr. Benson on the deal.

Stout’s Investment Banking Group provides mergers and acquisitions (M&A) advice, private capital raising, and other financial advisory services for private equity portfolio companies, closely held or family owned businesses, and divisions of large corporate parents. Stout's dedicated automotive industry practice includes experience with OE suppliers and aftermarket companies. For more information, please visit www.srr.com/industries/automobiles-components.

- See more at: http://www.srr.com/news/stout-advises-sale-ags-company#sthash.ji0usSBS.dpuf


 

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