April 03, 2007

Croft & Bender Advises Management Team in Purchase of APCO

Yahoo! Finance

ATLANTA (April 3, 2007) -- Croft & Bender, an Atlanta-based investment banking firm, announced today it represented the management team of Automobile Protection Corporation (APCO) during negotiations associated with the purchase of APCO. APCO was acquired by a private equity fund, Trident IV, L.P., managed by Stone Point Capital LLC of Greenwich, Conn., in partnership with the APCO management team.

Founded in 1984 and headquartered in Norcross, Ga., APCO was previously a subsidiary of Ford Motor Company.

The sale, which was announced on March 2, 2007, closed yesterday. Terms of the transaction were not disclosed.

APCO markets and administers extended vehicle service contracts and warranties sold by automotive original equipment manufacturers as well as automobile and recreational vehicle dealers located throughout the United States and Canada. The warranties provide bumper-to-bumper mechanical coverage as well as rental car and towing reimbursements. The company has about 280 employees.

“Croft & Bender was a very effective advocate for management and its interests in the transaction. We could not have had a better partner to assist us, said Larry Dorfman, Chairman and CEO of APCO.

“Stone Point and APCO make a great match and the ‘new’ APCO will be operated by a very effective and highly motivated management team, said Steve Hufford, a director with Croft & Bender. “It was a privilege to serve Larry and his team during this process.

Ford acquired APCO in July 1999. According to Ford the APCO sale is the result of a review of strategic options which was announced by Ford in October 2006.

About Croft & Bender
Croft & Bender LLC is an Atlanta-based investment banking firm focused on providing M&A, private equity and financial advisory services to middle-market and emerging growth companies in the Southeast. The firm also sponsors the C&B Capital private equity funds, with $44 million of capital under management. For more information on Croft & Bender visit www.croft-bender.com or contact Ed Croft or Ted Bender at (404) 841-3131.