Genuine Parts Co. Completes Automotive And Industrial Acquisitions

Genuine Parts Co. Completes Automotive And Industrial Acquisitions

The three acquisitions, which took effect March 1, add approximately $120 million in annual revenue.

GPC-LogoGenuine 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. “

You May Also Like

Allison Transmission Announces Q1 2024 Results

The company reported record net sales of $789 million.

Allison Transmission Announces Q1 2024 Results

Allison Transmission Holdings Inc. reported first quarter net sales of $789 million and first quarter diluted EPS of $1.90, which includes a $0.13 impact from $14 million of non-recurring UAW contract signing incentives incurred in the quarter.

Chair and Chief Executive Officer David S. Graziosi commented, "In the first quarter we generated record net sales, driven by strong Global On-Highway demand and strength in our Outside North America Off-Highway and Defense end markets. Robust demand for Class 8 vocational and medium-duty trucks drove record revenue in our North America On-Highway end market, while strength in Asia drove record first quarter revenue in our Outside North America On-Highway end market."

The Impact of Trade and Tariffs on the Aftermarket

While there are numerous components that make up “landed costs,” duties, taxes and tariffs are a huge factor and can often be a detriment to global trade, says Thomas Cook, managing director at Blue Tiger International.

Fenix Parts Completes Acquisition of Neal Auto Parts

Neal is an automotive recycler servicing the Central Illinois market with a population of approximately 1.3 million people.

Fenix Parts Acquires Green Auto Parts & Recycling

The company also announced Edgar Akopyan will be joining Fenix Parts as the director of business development, Southern California.

Automotive Parts Associates Recaps Annual General Meeting

Several supplier and shareholder awards were presented during the meeting, March 26-28, at the Grand Hyatt San Antonio River Walk in San Antonio.

Other Posts

GPC Reports Q1 2024 Results, Updates Full-Year Outlook

Sales were $5.8B, a 0.3% increase compared to the same period of the prior year.

Auto Parts 4 Less Reports Substantial Revenue Growth

The company attributes the growth to strategic initiatives and its LiftKits4Less.com platform, which was reactivated five months ago.

Auto Parts 4 Less Group Inc. Announces Growth Strategy
Auto Parts 4 Less Announces Investment from RB Capital

Auto Parts 4 Less announced it has completed the first tranche of funding from RB Capital Partners.

Auto Parts 4 Less Group Inc. Announces Growth Strategy
Power TruckPro USA Selects Autologue PartsWatch Solutions

Power TruckPro USA operates in Medley, FL, supplying heavy-duty truck parts to the Miami area. 

Autologue UREMCO