FAPS Receives FInancing from Seacoast Capital Managers

FAPS, Inc., Newark, NJ-based provider of automotive port processing services in the Port of New York and New Jersey, received an investment of undisclosed amount from Seacoast Capital Managers.

The firm’s new fund, Seacoast Capital Partners III, L.P., provided subordinated debt with warrants to the company to recapitalize existing debt and provide capital for growth.

With a processing capacity of over 400,000 vehicles annually, the company provides import, export, domestic remarshaling and rail processing services to major domestic and foreign automotive OEMs.
It maintains over 250 acres and 575,000 sq. feet of under roof processing at its terminal complex in Port Newark and Port Elizabeth, New Jersey.



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