Release time : 2015-06-15 07:59:19
Motion Industries, the industrial parts group of Genuine Parts Company, Atlanta, GA, has acquired Drago Supply Company, a regional industrial supplies distributor headquartered in Port Arthur, TX. Drago Supply has eight locations in Texas, Arkansas and Louisiana. Motion expects the purchase to generate annual revenues of $75 million.
The acquisition of Drago allows Motion Industries to continue its expansion in the industrial supplies market, an area where we see significant growth opportunities," said Thomas C. Gallagher, president and CEO of Genuine Parts Company, "Drago is a well-established company with an excellent reputation among their industrial and commercial customer base throughout the south central U.S. Together, Motion Industries and Drago are positioned to become a leading provider of industrial supplies across the U.S=
Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada and Mexico. The company also distributes industrial replacement parts in the U.S. and Canada through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes business products nationwide in the U.S. and in Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S., Canada and Mexico. Genuine Parts Company had 2007 revenues of $10.8 billion.