Genuine Parts Company has completed one automotive acquisition and two industrial acquisitions, effective March 1, 2016.
GPC Asia Pacific, the Company’s wholly-owned automotive distribution company based in Melbourne, Australia, completed the acquisition of Covs Parts from its parent company, Automotive Holdings Group (AHG). Covs Parts, located in Welshpool, Western Australia, is a leading distributor across the state of Western Australia, focused on original equipment and aftermarket automotive parts, mining and industrial consumable and truck products. The addition of 21 Covs Parts branches is expected to generate annual revenues of approximately $70 million.
Motion Industries, the Company’s wholly-owned industrial distribution company based inBirmingham, Alabama, has also completed the acquisitions of Epperson and Company and Missouri Power Transmission. Epperson and Company, with three locations and based in Tampa, Florida, is an industrial distributor specialising in material handling products and services. Missouri Power Transmission, with 15 locations and based in St. Louis, Missouri, is a distributor of power transmission equipment and industrial supplies. Combined, these two companies are expected to generate approximately $50 million in annual revenues.
Tom Gallagher, Chairman and CEO of Genuine Parts Company, stated: “These strategic investments represent our ongoing commitment to accretive growth through targeted acquisitions. Covs Parts, Epperson and Company and Missouri Power Transmission are quality organisations and are complementary to our existing businesses. We expect all three teams to further enhance our future growth and are pleased to welcome them to the GPC family. “