Motive Products Acquisition Fuels Continuing Growth for AGS Which Has Made Its Mark as a Leading Independent Aftermarket Manufacturer of Brake, Fuel and Transmission Lines As Well as a Full Line of Automotive Specialty Repair Products
MUSKEGON, MI / ACCESSWIRE / September 1, 2022 / 3 Rivers Capital (https://3riverscap.com/) portfolio company AGS Automotive Solutions (https://www.agscompany.com/) acquired Motive Products (https://www.motiveproducts.com/) on August 31. It was announced by Rob Carskadden, Managing Partner of 3 Rivers Capital, and Logan Pitts, Chief Executive Officer of AGS.
Based in California, Motive Products is a nationally recognized manufacturer-distributor of quality auto and motorcycle tool and equipment, including the popular Power Bleeder, used by professional racers and everyday drivers alike as a simple and effective system for bleeding brakes.
"The acquisition of Motive Products is the first of several acquisitions AGS plans to complete by the end of 2022. This is part of our aggressive strategy to acquire businesses where we can leverage AGS' product and operational strengths, increase the amount and speed of new product offerings around our core product categories, expand our e-commerce businesses, and grow into new market channels. We are extremely proud to have Motive a significant new member of the AGS family of proven automotive brands," said Pitts.
"Motive Products is honored to be a part of the vision AGS and 3RC have for their future. AGS will be able to elevate the Motive Brand while complimenting their current offerings," said Eric Leicher, Co-Owner of Motive Products.
?"As one of the first customers of Motive Products back in 1998 and one of the owners since 2008, I'm looking forward to watching the combined forces of AGS and Motive Products dominate the automotive braking component and tool market," said Marco Romani, Co-Owner of Motive Products.
About AGS:
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, solution 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.
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/714240/3-Rivers-Capital-Portfolio-Company-AGS-Automotive-Solutions-Acquires-Auto-Motorcycle-Parts-Manufacturer-Motive-Products
