Genuine Parts Company announces acquisition in Europe

Genuine Parts Company, the parent company of Motion Industries, announced an acquisition for its European Automotive business.

Alliance Automotive Group (AAG), the Company’s wholly owned automotive distribution company based in London, U.K., has entered into a definitive agreement to acquire PartsPoint Group (PartsPoint). The transaction is expected to close on June 1, 2019, and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals.

PartsPoint Group, headquartered in Ede, Netherlands, is a leading distributor of automotive aftermarket parts and accessories in the Benelux. Through a network of one national distribution center, six regional warehouses, and 147 branches, PartsPoint serves many thousands of customers across the Netherlands and Belgium, predominantly independent garages and wholesalers.

Paul Donahue, President and Chief Executive Officer of Genuine Parts Company, stated, “PartsPoint Group is a leading supplier of automotive parts and accessories in the Benelux marketplace, and we are pleased to expand our European footprint into this region with such an outstanding organization. We are excited about the opportunities we see in the Netherlands and Belgium, and we look forward to the many contributions the PartsPoint team will make in the years ahead.”

Jean-Jacques Lafont, Chief Executive Officer of Alliance Automotive Group added, “PartsPoint Group is an excellent strategic fit for AAG and an important milestone in our growth strategy in Europe. PartsPoint has a strong and talented management team and we look forward to supporting their long-term growth plans. We welcome the addition of PartsPoint to AAG.”

Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany, and Poland. Genuine Parts Company had 2018 revenues of $18.7 billion.

Image Courtesy of Motion Industries