The 2020 Mid-Year Economic Update_long

Genuine Parts Company Announces 3 Acquisitions

Acquisitions expand industrial, electrical/electronic and office products offerings.

Genuine Parts Company, Atlanta, GA, announced three acquisitions:

Motion Industries, the company's industrial business, completed its acquisition of Commercial Solutions Inc., an independent national distributor of industrial supplies, including bearings and power transmission products, complete solutions for drilling rigs and industrial and safety supplies. The company expects the acquired business to generate $100 million in annual revenues.

Electrical unit EIS has acquired Electro-Wire, Inc., a distributor and contract manufacturer of specialty wire and cable products primarily serving the telecom and transit markets. The company expects the acquired business to generate annual revenues of $100 million.

S.P. Richards, the distributor's office supplies segment, acquired Garland C. Norris Company Inc., a regional wholesale distributor of food service disposables and janitorial and cleaning supplies. The company expects the acquired business to generate $35 million in annual revenues.

"We are pleased to have closed on the acquisition of CSI, as we believe they provide Motion with significant growth opportunities across Canada," said Tom Gallagher, CEO of Genuine Parts Company. "Likewise, the addition of Electro-Wire and GCN better positions EIS and S. P. Richards, respectively, for future growth.  Electro-Wire strengthens the specialty wire and cable capabilities at EIS, and GCN serves to further diversify S. P. Richards' product offering into complementary, adjacent markets."

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