S. P. Richards Company, the office products group of
Genuine Parts Company
) has completed the acquisition of Impact Products, LLC, a leading
supplier of facility, janitorial and safety supplies in North
America. Impact Products has its headquarters in Toledo, OH and
distribution centers in Toledo and Walnut, CA.
The agreement for the acquisition was announced on Jun 17, 2014
and it has closed on schedule. The deal is expected to boost
revenues of Genuine Parts by $85 million per annum. Moreover, it
will complement the acquisition of Garland C. Norris by S. P.
Richards, which was completed on Feb 1, 2014.
Genuine Parts had announced three acquisitions simultaneously on
Feb 3, 2014. Apart from the Garland C. Norris acquisition,
Electro-Wire, Inc. and Commercial Solutions Inc. were acquired by
EIS - the Electrical/Electronic Material Group of Genuine Parts
- completed the acquisition of the assets of Electro-Wire, Inc. on
Feb 1, 2014. Additionally, Motion Industries (Canada), Inc., an
indirect wholly owned subsidiary of Motion Industries - the
Industrial Group of Genuine Parts - completed the acquisition of
100% of the issued and outstanding common shares of Commercial
Solutions Inc. on Jan 31, 2014.
Genuine Parts frequently undertakes acquisitions to expand its
business. In the near term, the company is targeting bolt-on
acquisitions of companies with annual revenue ranging from $25
million to $125 million.
At present, Genuine Parts carries a Zacks Rank #3 (Hold). Other
stocks worth considering in the same industry include
Fox Factory Holding Corp
Standard Motor Products Inc.
Douglas Dynamics, Inc.
). Fox Factory sports a Zacks Rank #1 (Strong Buy), while Standard
Motors and Douglas Dynamics have a Zacks Rank #2 (Buy).
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