TSL Express Daily News

New York, January 5, 2023 — Schulte Roth & Zabel LLP advised Lovell Minnick Partners (LMP) and National Auto Care (NAC) in connection with the sale of NAC to APCO Holdings, LLC (APCO), a portfolio company of Ontario Teachers' Pension Plan. 
 
LMP is a private equity firm focused on investments in financial services, financial technology, and related business services. NAC is a leading distributor and administrator of finance & insurance (F&I) products to auto, powersport and RV dealerships, credit unions and numerous other financial institutions. APCO is a leading provider and administrator of F&I products for the auto industry. 
 
The sale marks the completion of a successful partnership between LMP and NAC that began more than four years ago. During that time, NAC has rapidly expanded its business through a combination of organic growth initiatives and strategic acquisitions. Completing 21 acquisitions since 2020, NAC has diversified into new product lines, geographies and service offerings. The acquisitions were part of NAC's strategic plan to develop a vertically integrated business model, with administration and direct distribution capabilities that allow it to act as a "one-stop-shop" for its dealership and financial partners. 
 
The Schulte Roth & Zabel team representing LMP and NAC was led by partner Brian Miner, co-chair of the firm’s M&A and Securities Group, and M&A associates Ryan Post, Matt Saathoff, Faith Pang, Nikki Nikoleta, William Sobel, Rachel DiSciullo and Sarah Winkelstein. The team also included partners Melissa Goldstein (Regulatory), Alex Kim (IP), Ian Levin (Executive Compensation), Joseph Reich (Tax) and Gregory Ruback (Finance); special counsels Adam Gartner (Executive Compensation), Ngoc Pham Hulbig (Antitrust), Ted Keyes (Insurance) and Amiel Mandel (Real Estate); associates Steven Appel (IP), Hannah Hollingsworth (Tax) and Aaron Schwed (Real Estate); and law clerk Jessica Berman (Tax). 
 
About Schulte Roth & Zabel  
Schulte Roth & Zabel LLP (srz.com) is a full-service law firm with offices in New York, Washington, DC and London. As one of the leading law firms serving the financial services industry, the firm advises clients on investment management, corporate and transactional matters, and provides counsel on securities regulatory compliance, enforcement and investigative issues. The firm’s practices include: antitrust; bank regulatory; bankruptcy & creditors’ rights litigation; blockchain technology & digital assets; broker-dealer regulatory & enforcement; business reorganization; complex commercial litigation; cybersecurity & data privacy; distressed debt & claims trading; distressed investing; education law; employment & employee benefits; energy; environmental; estate planning; estate & trust administration; environmental, social and governance (ESG); family law; finance & derivatives; financial institutions; hedge funds; insurance; intellectual property, sourcing & technology; investment management; litigation; litigation finance; mergers & acquisitions; nonprofits; philanthropic planning; PIPEs; private credit, distressed investing & direct lending; private equity; real estate; real estate capital markets & REITs; real estate litigation; regulated funds; regulatory & compliance; securities & capital markets; securities enforcement; securities litigation; securitization; shareholder activism; structured finance & derivatives; tax; trading agreements; and white collar defense & government investigations.