The Starco Group has sold API Automotive Products, Inc. to Highline-Warren, a Pritzker Private Capital company
Lincoln acted as the exclusive investment banking representative for Starco and API, working closely with the company’s shareholder and management team throughout the process to find the right partner for the business and its employees as they continue executing on their exceptional growth trajectory. This included providing advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction.
Ross Sklar, Chairman and Chief Executive Officer of Starco, commented, “This transaction allows Starco to continue growing in the personal care and consumer channel. Lincoln’s highly committed and responsive team of bankers effectively guided Starco through the complexities of a carve-out process and the successful closing of the transaction.”
Troy Porcelli, President of API, added, “We are excited to join Highline-Warren and Pritzker Private Capital. Lincoln’s hands-on, dedicated team was essential in finding this ideal partner, which will further enable the growth of BlueDevil Products and PJ1 Motorsports. Lincoln’s extensive knowledge in the chemicals and automotive aftermarket space were invaluable during the process.”
The terms of the transaction were not disclosed.
Headquartered in Memphis, Tennessee, Highline-Warren is a leading national manufacturer and distributor of consumable and maintenance products with 27 facilities and over 1,200 employees. The company carries over 24,000 products including exclusives such as Mag 1® oil and lubricants, Rain-X® windshield washer fluid and Prime Guard® products. Highline-Warren was formed through the strategic combination of Highline Aftermarket and Warren Distribution and is part of Pritzker Private Capital’s family of companies. For more information, visit www.highlineaftermarket.com.
About API Automotive Products, Inc.
Headquartered in Mount Pleasant, South Carolina, API is a leading provider of premium performance automotive and motorsport chemicals, including stop leak solutions, fluid oil additives, fuel additives and repair and maintenance products. API operates through two widely recognized, consumer facing brands, BlueDevil Products and PJ1 Motorsports, each providing consumable, non-discretionary products to professional experts and consumers alike. For more information, visit www.gobdp.com and www.pj1.com.
About The Starco Group
Headquartered in Los Angeles, California, Starco is a leading manufacturer of aerosol, liquid fill and bulk chemicals across the do-it-yourself / hardware, household, personal care, pharmaceutical, food and beverage sectors. With over 10 facilities across the United States, Starco serves customers in multiple channels primarily serving brands and retailers. For more information, visit www.thestarcogroup.com.
Lincoln's ability to customize the process for API and their deep relationships in the chemicals industry proved pivotal in finding the right long-term home for the BlueDevil and PJ1 brands, as well as the API management team.
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