WASHINGTON (dpa-AFX) - Genuine Parts Co. (GPC) on Wednesday announced industrial and automotive acquisitions for both its Industrial Group, Motion Industries, and its U.S. Automotive Parts Group.
Motion Industries has agreed to acquire Hydraulic Supply Company or HSC, with an effective close date of October 1, 2018.
Sunrise, Florida-based HSC, founded in 1947, is a full-service fluid power distributor, with a product offering of hydraulic, pneumatic and industrial components and systems. HSC operates from 30 locations primarily in the southeastern U.S. which are supported by one central distribution center.
Genuine Parts said it expects HSC to generate estimated annual revenues of $85 million.
In addition, the company has agreed to acquire Hastings Auto Parts, Inc., also with an effective close date of October 1, 2018.
Genuine Parts noted that the addition of Hastings, founded in 1981 and based in the Detroit, Michigan area, will add four stores to its automotive distribution footprint and further expand its presence in the Detroit market. Hastings is expected to generate approximate annual revenues of $10 million.
Copyright RTT News/dpa-AFX
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