ATLANTA — Genuine Parts Co. (GPC) recently announced that its
Industrial Parts Group, Motion Industries, has entered into a
definitive agreement to acquire substantially all of the North American
assets of BC Bearing (BC Bearing, US Bearings and Norcan),
headquartered in Vancouver, B.C. BC Bearing is a family owned bearing
and power transmission distributor operating 53 branches throughout
western Canada and the northwestern U.S.
Subject to regulatory approval, the company expects the purchase to
close on or around March 1, 2010, and generate annual revenues of
approximately $185 million (CDN).
Thomas Gallagher, chairman, president and CEO of Genuine Parts Co.,
said, “The acquisition of BC Bearing allows Motion Industries to
continue its expansion in Canada and the northwestern U.S., where we
see significant growth opportunities. BC Bearing is a highly
regarded company with a strong management team and an excellent reputation among its commercial customer base.”