BrakeQuip Acquisition Follows On The Heels Of AGS Automotive Solutions' Recent Purchase Of Auto Tool and Equipment Manufacturer Motive Products Further Solidifying The Company's Aftermarket Parts Business
For SEMA 2022:
MUSKEGON, MI and LAS VEGAS, NV / ACCESSWIRE / October 27, 2022 / Less than 40 days since closing its purchase of Motive Products https://www.motiveproducts.com/, 3 Rivers Capital (https://3riverscap.com/) Portfolio company AGS Automotive Solutions (https://www.agscompany.com/) has finalized the acquisition of BrakeQuip, LLC (https://brakequip.com/), a world-leading manufacturer of DIY systems for tubes and hoses, it was announced by Rob Carskadden, Managing Partner, 3 Rivers Capital and Logan Pitts, Chief Executive Officer of AGS. The acquisition of BrakeQuip is the second of multiple acquisitions 3RC and AGS plan to complete by the end of 2022.
"The addition of BrakeQuip underscores AGS' continuing commitment to serve all channels of distribution with a comprehensive range of the highest quality product offerings revolving around our core aftermarket categories. BrakeQuip, together with recently acquired Motive Products and our established brake, fuel and transmission product lines, further solidifies AGS' ranking as a global source of best-in-class aftermarket auto parts and systems, while also adding Original Equipment and High-Performance customers, engineering capabilities and new product expertise," said Pitts.
"The latest example of world-class innovators to join the AGS roster, BrakeQuip reflects AGS Automotive Solutions' ongoing strategy of adding industry-recognized aftermarket brands that further the company's growing multi-channel distribution capabilities," said Carskaddan.
Headquartered in Alcoa, Tennessee, BrakeQuip, LLC is a world leader in DIY manufacturing systems for automotive tubes and hoses. BrakeQuip's hose manufacturing systems enable users to build and crimp rubber and stainless-steel braided brake and clutch hoses as well as power steering hoses. All BrakeQuip hose assemblies comply with international standards. BrakeQuip is also a supplier of specialty fittings and tools for brake specialists.
About AGS Automotive Solutions:
AGS began in 1931, manufacturing a unique stick lubricant as its first product. Today, AGS is the largest manufacturer and distributor of brake, fuel and transmission lines in the US automotive aftermarket. AGS also offers a full line of automotive specialty repair products, solutions and lubricants aimed at both the professional shop mechanic and the do-it-yourselfer working out of their home garage. AGS is headquartered in Muskegon, MI and can be visited online at https://www.agscompany.com/.
About 3 Rivers Capital:
3 Rivers Capital is a private equity firm focused on control acquisitions of small businesses with EBITDA between $4-15M. Since its founding in 2005, 3 Rivers Capital has built expertise in acquiring family and entrepreneur-owned businesses that present a clear and compelling opportunity to create significant value. 3 Rivers Capital adds value through active ownership and supportive partnerships with highly motivated management teams. For more information on 3 Rivers Capital please visit 3 Rivers Capital. For new transaction opportunities contact Michael Zhong at Zhong@3riverscap.com.
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CONTACT:?Steve Syatt
SSA Public Relations
steve@ssapr.com
(818) 222-4000
SOURCE: 3 Rivers Capital
View source version on accesswire.com:https://www.accesswire.com/722671/3-Rivers-Capital-Portfolio-Company-AGS-Automotive-Solutions-Acquires-Leading-Automotive-Tube-And-Hoses-Manufacturer-BrakeQuip-LLC
