Genuine Parts Co. (GPC) announced it has completed one automotive acquisition and two industrial acquisitions, all effective March 1.
GPC Asia Pacific, the company’s wholly owned automotive distribution company based in Melbourne, Australia, completed the acquisition of Covs Parts Pty. Ltd. from its parent company, Automotive Holdings Group. Covs Parts, located in Welshpool, Western Australia, is a leading distributor across the state of Western Australia, focused on OE and aftermarket automotive parts, mining and industrial consumable and truck products. The addition of 21 Covs Parts branches is expected to generate annual revenue of approximately $70 million USD.
Motion Industries, the company’s wholly owned industrial distribution company based in Birmingham, Alabama, has also completed the acquisitions of Epperson and Co. and Missouri Power Transmission. Epperson and Co. is based in Tampa, Florida, and has three locations. The company is an industrial distributor specializing in material handling products and services. Missouri Power Transmission, with 15 locations and based in St. Louis, is a distributor of power transmission equipment and industrial supplies. Combined, these two companies are expected to generate approximately $50 million in annual revenue.
Tom Gallagher, chairman and CEO of GPC, stated, “These strategic investments represent our ongoing commitment to accretive growth through targeted acquisitions. Covs Parts, Epperson and Co. 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. “
