Genuine Parts Company has completed the previously announced sale of its wholly-owned subsidiary EIS Inc., the Electrical Specialties Group of Motion Industries, to Audax Private Equity. Terms of the transaction were not disclosed.
"We are very pleased to complete the sale of EIS and take another step forward in our strategy to optimize our portfolio. We want to thank the entire EIS team, whose hard work and dedication made this transaction possible," said Paul Donahue, chairman and CEO of GPC.
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