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.”