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

Tariff threats aimed at South Korea and Japan, two top Georgia trade partners

Trump announced 25% import taxes will take effect next month on products originating in South Korea and Japan, two key trade partners for Georgia and the nation.

7m ago

Airport’s planned overnight power outages will begin Tuesday

The tests, which will affect lighting, escalators, elevators and major terminal systems like baggage claim, are set to happen between the hours of 11:59 p.m. and 2:30 a.m.

California upgraded its film incentive program. How will this affect Georgia?

The increase puts California’s incentive in closer competition with Georgia’s own, which has long been considered the most generous programs in the country.

The Latest

Credit: AP

California upgraded its film incentive program. How will this affect Georgia?

Opinion: Why do we name our cars?

Home Depot makes $5.5B acquisition to increase business with pro contractors

Featured

Credit: Ziyu Julian Zhu/AJC

Unemployment in Georgia is down, but so is the labor force. Why?

Georgia’s labor force has declined by nearly 30,000 compared to May last year. Here are some reasons why.

Georgia appeals court rules election boards must certify results

The Georgia Court of Appeals ruled that election board members are required to certify election results even when they have concerns about fraud or errors.

Atlanta crypto biz owner caught up in fraud says it’s ‘like living in a James Bond movie’

Prosecutors say North Korean IT specialists are 'infiltrating' tech companies in the U.S. as remote workers to steal money from businesses and funnel it back to North Korea.