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Genuine Parts Company completes automotive and industrial acquisitions

ABR Staff Writer Published 09 March 2016

Genuine Parts Company has announced that is 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 Pty Ltd ("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 $70 million (US$).

Motion Industries, the Company's wholly-owned industrial distribution company based in Birmingham, 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 specializing 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.

Genuine Parts Company, chairman and CEO, Tom Gallagher 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 organizations 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."

Source: Company Press Release