American Pacific Group (APG), a San Francisco-based private equity firm, has partnered with Allam Taj and Christoph Ganz of Atlanta-based Gray Eagle Capital Partners to form Aesop Auto Parts, which will serve as a platform to acquire and grow progressive auto recycling businesses. Additionally, Aesop has made its first acquisition, that of Wayne Auto Salvage, Goldsboro, North Carolina, which provides full-service and self-service recycled automotive parts.
According to a news release about the formation of Aesop Auto Parts, the company is “committed to advancing the automotive repair industry by focusing on the environmentally friendly disposal of salvage vehicles, retaining and developing industry talent and growing capabilities to recycle the cars of the future.” The company says it will promote the use of recycled original parts by ensuring their quality, affordability and availability in addition to focusing on customer service and advocating for the recycled auto parts industry at large.
Wayne Auto Salvage, established in 1970, operates full- and self-service automotive recycling businesses and provides recycled original auto parts to the professional and do-it-yourself repair market serving more than 1,500 clients nationwide.
“For decades Wayne Auto Salvage has been driven by advocating for the use of recycled original parts and making recycled parts more accessible,” says Dale Bevell, Wayne’s second-generation owner and the new president of Aesop. “Since 1970, my family has worked to build efficient and green recycling processes, a great team and a strong base of highly valued customers. This industry has come a long way over the past few decades, mostly due to the collaboration and spirit of partnership in our industry. We are excited to join the Aesop Auto Parts family and to collectively build on that tradition of collaboration as we partner with other progressive yards to grow the industry and advance recycling practices.”
“We are excited to launch Aesop Auto Parts and to welcome Dale and Wayne Auto Salvage as the platform’s first acquisition,” Fraser Preston, managing partner at APG, says. “The Wayne team are leaders in the industry, and we look forward to working with them to drive continued growth for Wayne and for the other businesses we hope to partner with through the Aesop Auto Parts platform.”