Genuine Parts acquires N.J. company, finishes 2nd deal

Atlanta-based Genuine Parts, a major distributor and retailer of automotive parts, announced a new acquisition and the completion of another deal on Friday.

The company said Motion Industries, its industrial group, has acquired AST Bearings LLC in a stock deal. AST is a Montville, N.J.,-based supplier of high precision bearings, bushings and related products. Terms of the deal were not disclosed, but Genuine Parts expects the acquisition to generate about $35 million in annual revenues.

Genuine Parts also said EIS Inc., the company’s electrical group, closed on a deal to acquire the assets of Tekra Corp., a New Berlin, Wis.-based company distributor of specialty films and adhesives. Terms of this deal also were not disclosed, but Genuine Parts expects the business to generate about $75 million in revenues.