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Slide #7. Genuine Parts Company — Commercial Solutions Inc., Food Service and Jan/San Distributor, Specialty Wire and Cable Distributor
Genuine Parts Company (NYSE:GPC)
Commercial Solutions Inc., Food Service and Jan/San Distributor, Specialty Wire and Cable Distributor
Genuine Parts Company (NYSE: GPC) announced today three acquisitions for its Industrial, Electrical/Electronic and Office Groups. Effective January 31, 2014, Motion Industries (Canada), Inc. ("Motion Canada"), an indirect wholly-owned subsidiary of the Company's Industrial Group, Motion Industries ("Motion"), completed the acquisition of all of the issued and outstanding common shares of Commercial Solutions Inc. ("CSI"), as previously announced on December 2, 2013. CSI (TSX: CSA), headquartered in Edmonton, Alberta, is one of Canada's leading independent national distributors of industrial supplies, including bearings and power transmission products, complete solutions for drilling rigs and industrial and safety supplies. Its customers represent a broad cross-section of industries and are served from 22 locations across Canada and one in the U.S. The Company expects the acquired business to generate approximately $100 million in annual revenues.
Genuine Parts is engaged in the distribution of automotive and industrial replacement parts. Co.'s segments are: Automotive Parts Group, which distributes automotive parts and accessory items and provides inventory, cataloging, marketing, training and other programs to the automotive aftermarket; and Industrial Parts Group, which distributes industrial replacement parts and related supplies such as bearings, mechanical and electrical power transmission products, industrial automation and robotics, hose, hydraulic and pneumatic components, industrial and safety supplies and material handling products to maintenance, repair and operation and original equipment manufacturer customers.
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Hold (2.14 out of 4)