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.

Genuine Parts had 2012 revenue of about $13 billion.

About the Author

Christopher Seward

Home Depot cuts outlook amid housing slump and consumer uncertainty

Home Depot said its net income dipped to $3.6 billion during the third quarter, down 1.3% from the same period last year.

Global software firm announces Atlanta expansion with 250 new jobs

Sales software company Salesforce announced Tuesday it will invest $15 million to expand its Georgia operations, adding 250 new jobs to Fulton County by the end of 2028.

Downtown Atlanta’s Hotel Phoenix takes flight, sets opening date

The opening comes as Centennial Yards and its parent, CIM Group, push ahead on several key projects across the 50-acre site, the largest project the city has seen in decades.

The Latest

Credit: Special

Beyond the odometer: What matters most in a used car

Why your car’s safety tech needs maintenance, too

OPINION

Saying goodbye to the Porsche 718 Cayman — for now

Featured

Credit: Ben Gray

Donor leaves WABE $3 million, largest individual gift in station’s history

An Atlanta resident has bequeathed WABE a $3 million donation, the largest one-time individual donation in the nonprofit media operation’s 76-year history.

Usher sues business partners over failed Buckhead restaurant plan

Atlanta singer Usher wants his money back after loaning $1.7 million to music producer Bryan-Michael Cox and others to buy a Buckhead restaurant property for $6.3 million.

Braves’ original ‘Freeze’ is retired. But you probably still can’t catch him.

As the Atlanta Braves prepare to find their next sprinting mascot, Nigel Talton is enjoying his new career coaching high school athletes at McEachern High.