Ford to sell Automobile Protection Corp.

Ford Motor Co. said it has agreed to sell its Automobile Protection Corp. to Trident IV L.P.

Trident IV is a private equity fund managed by Stone Point Capital LLC in Greenwich, Conn. Stone Point manages more than $8 billion in committed capital to make investments in the global insurance and financial services industries.

Financial terms of the deal weren’t immediately available. Automobile Protection Corp., which Ford bought in July 1999, offers vehicle service contracts and other after-market products to dealers of all vehicle makes and model. More at Freep.com