Wednesday, January 20States Top Leading News (STL.News)

Genuine Parts Company Completes Sale Of Electrical Specialties Group To Audax Private Equity

ATLANTA, GA (STL.News) – 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.”

The Company will provide additional details associated with this divestiture and its impact to future results when it reports its third quarter on October 17, 2019.

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