Genuine Parts Company Completes Acquisition of Kaman Distribution Group, Creating a Premier Leader in Industrial Solutions
ATLANTA, GA (STL.News) Genuine Parts Company (NYSE: GPC) (“GPC”), a leading distributor of automotive and industrial replacement parts, announced today that its wholly-owned subsidiary, Motion Industries, Inc. (“Motion”) had completed the purchase of Kaman Distribution Group (“KDG”) for a purchase price of approximately $1.3 billion in cash, effective January 3, 2022.
KDG is leading power transmission, automation, and fluid power industrial distributor and solutions provider with operations throughout the U.S., providing electro-mechanical products, bearings, power transmission, motion control, and electrical and fluid power components to MRO and OEM customers. Headquartered in Bloomfield, CT, KDG’s 1,700 employees serve more than 50,000 customers.
“We are delighted to announce the completion of this strategic acquisition, creating significant opportunities for our customers, suppliers, teammates, and shareholders,” said Paul Donahue, Chairman and Chief Executive Officer of GPC. “We welcome the KDG team to the GPC family and look forward to their contributions to the ongoing success of our business. The future of our Motion team, led by Randy Breaux, is very bright as we bring together the world-class talent and industrial expertise of these two organizations, creating a premier leader in industrial solutions.”