Press Releases


EASTERN MANUFACTURING, INC. HAS BEEN ACQUIRED BY AP EMISSION TECHNOLOGIES, LLC

Birmingham, Michigan – October 1, 2015 – Angle Advisors is pleased to announce that AP Emissions Technologies (“AP”) has acquired Eastern Catalytic (“Eastern” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to Eastern in completing this transaction. With this transaction, Angle Advisors has completed 27 aftermarket transactions since 2009 and 6 specifically within the aftermarket exhaust and emission components segment.

Eastern_AP - LogosBased in Langhorne, Pennsylvania, Eastern is a leading manufacturer of high quality emission components for the automotive aftermarket. With vehicle coverage across 98% of vehicles in operation, Eastern offers a broad array of replacement catalytic converters including universal, direct-fit, and manifold units meeting both federal and California certifications. The Company’s products also include associated components as well as diesel converters. Eastern’s Langhorne site includes a 115,000 ft2 manufacturing facility and 102,000 ft2 distribution center, with approximately 125 employees.

“I look forward to working closely with the AP leadership team to extend our combined presence in the market and bring the full breadth of our combined product portfolio to better service our mutual customers. With AP’s vertically integrated manufacturing model and Eastern’s first-to-market philosophy, I am confident our respective customers will benefit significantly from our industry-leading converter and exhaust product coverage as well as our commitment to quality, delivery and customer service,” says George Schafer, Sr., President of Eastern. “Angle Advisors’ substantial experience in the automotive aftermarket and extensive relationships throughout the industry proved to be instrumental in our successful transaction.”

“Angle Advisors’ role extended far beyond our expectations. Their service and dedication to the intricacies of a dynamic family business, understanding of what was important to each stakeholder, and continued involvement throughout the process is what got this deal done,” added George Schafer, Jr., Vice President of Business Development at Eastern.

“I am extremely excited to welcome the Eastern team to the AP family. The combined companies bring two complementary leadership teams that share a commitment to delivering innovation to the aftermarket and going above and beyond to provide best-in-class service and support to our customers,” said Chris Ostrander, CEO of AP Exhaust. “Uniting two great companies expands our brand offering, augments our research and development, accelerates our new product development and enhances our online catalog capabilities – all of which will enrich our mutual customers’ buying experience by bringing products to market faster and providing them the most comprehensive full line offering in the market.”

Founded in 1927, AP Exhaust Technologies has become one of the leading manufacturers and suppliers of automotive, light truck, and heavy-duty exhaust and emissions products under the AP®, CATCO®, ANSA®, Cherry Bomb®, TruckEx®, Xlerator®, and Silverline® brands among others. In addition, AP’s Aristo® affiliate offers a full line of INTELLIGENT CATALYST® products for on-road, off-road, stationary, industrial, commercial, and marine engines powered by gasoline, diesel, or other fuel sources making AP the only catalytic converter manufacturer that is fully vertically integrated with respect to catalyst coating technology. For additional information, please visit www.apexhaust.com.

Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm’s 36 professionals have completed 147 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.