WASHINGTON (dpa-AFX) - Automotive and industrial replacement parts distributor Genuine Parts Co. (GPC) Thursday said its Electrical Group, EIS, Inc., has acquired the stock of Cobra Wire & Cable, Inc. from Merit Capital Partners and Fulton Capital, effective September 1.
Cobra is a specialty wire and cable distributor serving the telecom, battery and uninterruptible power supply and marine markets. The company expects the acquired business to generate annual revenues of approximately $43 million.
Thomas Gallagher, Chairman, President and Chief Executive Officer of Genuine Parts Company, said, 'Bob Thomas, President and CEO of EIS, and his management team continue to grow their specialty wire and cable business into targeted adjacent markets.'
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