NORTON SHORES — Automotive aftermarket parts manufacturer AGS Company Automotive Solutions LLC continues to build out its portfolio of products with a deal for BrakeQuip LLC.
Based in Alcoa, Tenn., BrakeQuip offers products that allow users to make their own automotive tubes and hoses for brakes, clutches and power steering systems. The company’s products allow users to build and crimp both rubber and stainless steel hoses.
BrakeQuip also supplies a range of specialty fittings and tools for brake technicians.
For AGS, the addition of BrakeQuip fits with its strategy of building a “comprehensive range of the highest quality product offerings revolving around our core aftermarket categories,” CEO Logan Pitts said in a statement. The latest addition also adds original equipment and high-performance customers, new engineering capabilities and new product lines, Pitts added.
The deal marks the second acquisition this year for Norton Shores-based AGS Co., a portfolio company of Pittsburgh, Pa.-based private equity firm 3 Rivers Capital since 2016. The company previously acquired Gilroy, Calif.-based Motive Products, the maker of the Power Bleeder line of equipment for brake repairs, and has multiple additional deals in the pipeline for 2022, according to a statement.
3 Rivers Capital Managing Partner Rob Carskadden said the latest deal for BrakeQuip “reflects AGS Automotive Solutions’ ongoing strategy of adding industry-recognized aftermarket brands that further the company’s growing multi-channel distribution capabilities.”
Terms of the deal were not disclosed.
AGS was founded in 1931 as American Grease Stick Co. and was acquired in 2016 by 3 Rivers Capital. The company is one of the largest manufacturers and distributors of brake, fuel and transmission lines for the U.S. automotive aftermarket industry serving professional mechanics and do-it-yourself customers.