RTTNews | Dec 16, 2021 07:18AM EST

07:18 Thursday, December 16, 2021 (RTTNews.com) - Genuine Parts Co. (GPC), a leading distributor of automotive and industrial replacement parts, announced Thursday that it has entered into a definitive agreement under which its wholly-owned subsidiary, Motion Industries, Inc. will acquire Kaman Distribution Group (KDG) from private investment firm Littlejohn & Co., LLC.

The acquisition is valued at a total purchase price of approximately $1.3 billion in cash. The transaction is expected to close in the first quarter of 2022, subject to the satisfaction of customary closing conditions.

Established in 1971, KDG is a power transmission, automation and fluid power industrial distributor and solutions provider with operations throughout the U.S., providing electro-mechanical products, bearings, power transmission, motion control and electrical and fluid power components to MRO and OEM customers.

KDG is expected to generate approximately $1.1 billion of revenue in 2022. Additionally, GPC expects the acquisition to be accretive to its adjusted earnings in the first year after closing and expects to achieve more than $50 million in annual run-rate synergies over three years.

Read the original article on RTTNews ( https://www.rttnews.com/3249874/genuine-parts-to-acquire-kaman-distribution-group-for-about-1-3-bln-cash-quick-facts.aspx)

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