Private equity firm Gen Cap America has sold a Missouri distributor of automotive parts and supplies for an undisclosed sum.
The sale of 57-year-old Keltner Enterprises is the second recent disposition for Nashville-based Gen Cap, which last month unloaded Brentwood-based Hobby Lobby to local entrepreneur Mark Cleveland. Nashville-based Gen Cap bought out Keltner's retiring owners in late 2005.
Buying the Springfield, Mo.-based business, which includes a trucking subsidiary, is Germantown-based Atlantic Pacific Automotive. That company bills itself as the largest independent player in its industry.
Gen Cap, which now has 14 companies in its portfolio, hired Edgeview Partners, a unit of finance giant CIT, as its financial advisor for the deal.