Motion Industries To Acquire Apache Inc.
Motion Industries, Inc., a wholly owned subsidiary of Genuine Parts Company, has entered into a definitive agreement to acquire Apache, Inc., headquartered in Cedar Rapids, Iowa.
With annual sales of $4.6 billion, Motion Industries is an industrial parts distributor serving more than 300,000 customers across a range of industries, including pharmaceutical, chemical, and food and beverage.
Founded in 1963, Apache offers hose, belting, custom fabrications, on-site belting services, and consumer products from seven sales and production locations in the U.S. through an established distribution network.
Execution of the transaction will occur on November 1, 2017.
(Source: Motion Industries, Inc.)