Audax Private Equity has acquired EIS Inc from Genuine Parts Company. No financial terms were disclosed. EIS is a provider of process materials, production supplies, specialty wire and cable and fabricated parts. And, GPC is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany, Poland, the Netherlands and Belgium.
ATLANTA, Oct. 1, 2019 /PRNewswire/ — Genuine Parts Company (NYSE: GPC) announced today that it has completed the sale of its wholly-owned subsidiary EIS, Inc. (EIS), the Electrical Specialties Group of Motion Industries, to Audax Private Equity (Audax), effective September 30, 2019.
Paul Donahue, Chairman and Chief Executive Officer of GPC, stated, “We are very pleased to complete the sale of EIS and take another step forward in our strategy to optimize our portfolio. We want to thank the entire EIS team, whose hard work and dedication made this transaction possible.”
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany, Poland, the Netherlands and Belgium. The Company also distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia through its Industrial Parts Group. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. Genuine Parts Company had 2018 revenues of $18.7 billion. Further information is available at www.genpt.com.