Genuine Parts completes 3 acquisitions
ATLANTA (AP) — Auto and industrial parts distributor Genuine Parts has completed three acquisitions.
The company said Monday that Motion Industries (Canada), Inc., an indirect wholly owned subsidiary of its industrial group, Motion Industries, closed on the acquisition of Commercial Solutions Inc. Canada's CSI is an independent national distributor of industrial supplies, including bearings and power transmission products, supplies for drilling rigs, and industrial and safety equipment.
EIS, Genuine Parts' electrical/electronic material group, completed the acquisition of Electro-Wire Inc. The Schaumburg, Ill., company is a distributor and contract manufacturer of specialty wire and cable products that primarily serves the telecommunications and transit markets.
Genuine Parts also said that S. P. Richards, its office products group, has acquired Garland C. Norris Co. Inc. The Apex, N.C., company is a regional wholesale distributor of food service disposable goods and janitorial and cleaning supplies.
Financial terms were not disclosed.
Shares of Atlanta-based Genuine Parts Co. dropped $3.53, or 4.3 percent, to $78.72 in afternoon trading.