Mergers & acquisitions brokerage firm Benjamin Ross Group announced the sale of a manufacturing and distribution business in East Orange to a private investor.
Newark Auto Products, established in 1907, is a maker and distributor of automotive replacement carpets and rubber mats for the do-it-yourself market.
Seller Ben Hershkowitz said: “(Managing Partner) Michael (Lefkowitz) and his firm were fantastic. Not only did they find a buyer, but they were with me at every step of the selling process to make it go smoothly and without a hitch.”
Financial terms of the transaction were not disclosed.
Benjamin Ross Group performed a valuation of the company, worked as broker to sell it, identified a buyer and secured financing for the transaction.