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SALE OF AP EXHAUST TECHNOLOGIES

AUDAX GROUP HAS ACQUIRED AP EXHAUST TECHNOLOGIES


Birmingham, Michigan – January 2, 2014 – Angle Advisors is pleased to announce that Audax Group(“Audax”) has agreed to recapitalize AP Exhaust Technologies, LLC (“AP Exhaust”) along with two affiliated entities, Aristo, LLC (“Aristo”) and AirTek LLC (“Airtek” or collectively the “Company”).The recapitalization, which is expected to close in a few weeks, was in connection with the retirement of certain shareholders of the Company.Vange Proimos remains the President and Chief Executive Officer and will focus on growing the Company along with the support of Audax. Angle Advisors, LLC acted as the exclusive investment banking advisor and Honigman Miller Schwartz and Cohn LLP acted as legal counsel to AP Exhaust in completing this transaction.


Based in Goldsboro, NC, AP Exhaust manufactures a complete line of OE replacement and performance exhaust and emissions products for automotive, light truck, heavy-duty, agricultural, and industrial markets. AP Exhaust’s product offering includes high quality mufflers, exhaust pipes, catalytic converters, performance exhaust and related accessories. For additional information, please visit www.apexhaust.com.


Based in Hobart, IN, AirTek (d/b/a CATCO) is a fully integrated manufacturer of catalytic converters for the automotive aftermarket, OEM, and industrial markets worldwide. AirTek offers a complete line of direct fit and universal catalytic converters to meet customers’ emission control needs. For additional information, please visit www.catcoglobal.com.


Based in Hobart, IN, Aristo offers a full line of emission reducing catalysts for on-road, off-road, stationary, industrial, commercial and marine engines powered by gasoline, diesel, or other fuel sources. Aristo's state-of-the-art “intelligent catalyst” formulation process can be applied to a range of substrates to offer customers an ideal product solution. For additional information, please visit www.aristoglobal.com.


Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt businesses. For more information, please visit www.audaxgroup.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 33 professionals have completed 97 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.

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