Genuine Parts Co. (NYSE: GPC) subsidiary Motion Industries has acquired Paragon Service & Supply, Lima, OH. Motion has also agreed to acquire Commercial Solutions Inc., in Alberta, Canada.
Paragon Service & Supply is an industrial distributor serving metalworking customers throughout the region with custom-designed tooling. Motion expects the acquired business to generate annual revenues of about $15 million.
The acquisition of Commercial Solutions Inc. by Motion Canada is expected to close in the first quarter of 2014. CSI (TSX: CSA), Edmonton, Alberta, is an independent national distributor of industrial supplies, including bearings and power transmission products and complete solutions for drilling rigs and industrial and safety supplies.
Commercial Solutions customers represent a broad cross-section of industries and are served from 22 locations across Canada and one in the U.S. Motion expects the acquired business to generate more than $100 million in annual revenues.
