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User:AG GPC/Genuine Parts Company

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Genuine Parts Company
NYSE: GPC
S&P 500 component
Founded1928; 96 years ago (1928) in Atlanta, Georgia, United States
Founders
Headquarters
Atlanta, Georgia
,
United States
Key people
Number of employees
60,000
Subsidiaries
Websitegenpt.com

Genuine Parts Company (GPC) is an American automotive and industrial parts distributor based in Atlanta, Georgia.[2] Established by brothers Carlyle and Malcolm Fraser in 1928, the company has approximately 60,000 employees.[3] In addition to the United States, GPC has operated in Australasia, Belgium, Canada, France, Germany, Mexico, the Netherlands, Poland, and the United Kingdom. GPC's subsidiaries include industrial parts distributor Motion as well as NAPA Auto Parts, which primarily sells parts in North America.[4]

History

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Genuine Parts Company (GPC) was founded by brothers Carlyle and Malcolm Fraser in Atlanta in 1928.[5]

GPC's headquarters were located at Atlanta's Circle 75, in Cobb County, starting in 1979. Approximately 400 employees worked in the 115,000-square-foot space. In 2014, GPC announced plans to relocate its headquarters to Wildwood Office Park, next to an existing operational support facility.[6]

William P. Stengel II is GPC's president and chief executive officer (CEO). He joined the company as GPC's first chief transformation officer in 2019,[7][8] became president in 2021,[9] and became chief operating officer in 2023.[10] Stengel succeeded Paul Donahue, who became the CEO of GPC in 2016. Donahue succeeded Tom Gallagher,[11] who initially continued as chairperson,[12] until Donahue was elected by the board of directors to that role in 2019.[1][13][14] Donahue transitioned to executive chairman in 2024.[15][16]

GPC ranked number 239 on Forbes' America's Best Employers list in 2017 and number 262 on the magazine's list of America's Largest Public Companies in 2018. The company also ranked number 678 on Forbes' World Best Employers list in 2020, and number 731 on the Forbes Global 2000 list in 2024.[3]

Subsidiaries

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Main articles: Motion Industries and NAPA Auto Parts
Among Genuine Parts Company's subsidiaries is NAPA Auto Parts; pictured is the exterior of a NAPA Auto Parts shop in the commercial historic district of The Dalles, Oregon, in 2014.

GPC has two primary business segments: Motion, which focuses on industrial products, and the automotive brand NAPA Auto Parts.[17]

According to Industrial Distribution, Motion started as a distributor of bearings and industrial supplies, and expanded to offer products related to automation, conveyance, hydraulics, fluid power, and robotics.[18] GPC acquired Motion in 1976. GPC's electrical products division, EIS Inc., merged with Motion in 2018,[19] before being sold in October 2019.[17] Based in Birmingham, Alabama, Motion has approximately 9,000 employees and 170,000 customers as of 2023.[18]

NAPA Auto Parts was established in 1925.[20] Some NAPA Auto Parts stores are owned and operated by GPC, but most are independently owned and operated.[21] There were approximately 6,000 NAPA Auto Parts stores in 2020.[20]

GPC acquired UAP Inc. of Canada in 1998 and the Australian car parts supplier Exego Group in 2013.[22][23] GPC and its four business units acquired nineteen companies in 2016.[24] In 2017, GPC acquired a 35 percent stake in industrial distributor Inenco Group,[25] as well as Alliance Automotive Group.[26] GPC acquired Kaman Distribution Group (KDG), a provider of industrial solutions such as automation, conveyance, and fluid power, in 2022.[18]

Former subsidiaries

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In 1975, GPC acquired S.P. Richards, which was described by Industrial Distribution as "a distributor of general office products, technology products and accessories, office furniture, JanSan and safety supplies".[17]

In 2018, GPC announced plans to merge the "workplace essentials distributor" Essendant into S.P. Richards, following a spin-off of S.P. Richards to become an independent company called Essendant.[27] GPC sold S.P. Richards through a series of transactions in 2020, starting with the Canada division in January. The U.S. operations were sold to an investor group and the Supply Source Enterprise business, which included The Safety Zone and Impact Products operations, were sold to an affiliate of H.I.G. Capital. GPC continued with Motion and NAPA Auto Parts.[17]

References

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  1. ^ a b Mandel, Eric (April 22, 2019). "Genuine Parts CEO picked to be sixth chairman in the company's 91-year history". Atlanta Business Chronicle.
  2. ^ Hughes, Thomas (April 20, 2023). "Genuine Parts Company Is Genuinely A Good Buy". Entrepreneur. ISSN 0163-3341.
  3. ^ a b "Genuine Parts". Forbes. ISSN 0015-6914. OCLC 6465733.
  4. ^ Hockett, Mike (July 15, 2020). "Genuine Parts' Automotive Leader Resigns". Industrial Distribution. ISSN 0019-8153.
  5. ^ "Malcolm H. Fraser, 91, Retailer of Auto Parts". The New York Times. The New York Times Company. February 19, 1994.
  6. ^ Saporta, Maria (November 20, 2014). "Genuine Parts moving its home base to Wildwood, away from new Braves stadium". Atlanta Business Chronicle. American City Business Journals. Archived from the original on November 21, 2014.
  7. ^ Mandel, Eric (November 18, 2019). "Genuine Parts picks former HD Supply exec as its first chief transformation officer". Atlanta Business Chronicle.
  8. ^ Hockett, Mike (November 19, 2019). "Genuine Parts Appoints former HD Supply Facilities Maintenance Head as Chief Transformation Officer". Industrial Distribution.
  9. ^ Mandel, Eric (January 19, 2021). "Genuine Parts promotes chief transformation officer to president". Atlanta Business Chronicle.
  10. ^ Armstrong, Zach (December 8, 2022). "Genuine Parts Co. shuffles top executives". Atlanta Business Chronicle.
  11. ^ Hockett, Mike (April 26, 2016). "Genuine Parts Company Names Donahue New CEO". Industrial Distribution.
  12. ^ Saunders, Jessica (April 24, 2017). "Gallagher retiring as executive officer of Genuine Parts Co". Atlanta Business Chronicle.
  13. ^ Edmonson, Crystal (August 8, 2023). "After 95 years, Genuine Parts Co. aims to be disruptor in industry (podcast)". Atlanta Business Chronicle.
  14. ^ Sicurella, Savannah (November 10, 2023). "'Hybrid approach is here:' Genuine Parts Co. wants employees in the office". Atlanta Business Chronicle.
  15. ^ Fuhrmeister, Chris (April 30, 2024). "Genuine Parts Co. CEO Paul Donahue to retire; successor named". Atlanta Business Chronicle.
  16. ^ "Genuine Parts CEO Paul Donahue to be replaced by operations head". Reuters. April 29, 2024.
  17. ^ a b c d Hockett, Mike (July 1, 2020). "Genuine Parts Co. Sells Office Products Unit S.P. Richards". Industrial Distribution.
  18. ^ a b c Keough, Jack (June 8, 2023). "GPC, Motion Remain Bullish for 2023". Industrial Distribution.
  19. ^ Hockett, Mike (March 6, 2018). "EIS Merged Into Motion Industries As Electrical Specialties Group". Industrial Distribution.
  20. ^ a b "Auto parts company creating 250 jobs in Lebanon". Nashville Post. November 17, 2020.
  21. ^ Hayden, Matthew (December 16, 2023). "Community engagement and know-how earn NAPA Auto Parts third consecutive win". Arizona Daily Sun.
  22. ^ "Company News; Genuine Parts Gaining Rest of UAP of Canada". Bloomberg News. October 31, 1998 – via The New York Times.
  23. ^ "Genuine Parts Revs Up With $800 Million Exego Deal". The Wall Street Journal. March 13, 2013.
  24. ^ Keough, Jack (March 8, 2017). "Genuine Parts, Motion Industries Seek More Acquisitions in 2017". Industrial Distribution.
  25. ^ Hockett, Mike (March 30, 2017). "Genuine Parts Co. Acquires 35% Stake in Large Australia-Based Industrial Distributor". Industrial Distribution.
  26. ^ "Genuine Parts to enter European market with $2 billion deal". Reuters. September 25, 2017.
  27. ^ Hockett, Mike (April 12, 2018). "Essendant to Merge with Genuine Parts Co. Subsidiary S.P. Richards". Industrial Distributor.
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Category:1928 establishments in Georgia (U.S. state) Category:American companies established in 1928 Category:Business services companies established in 1928 Category:Companies based in Atlanta Category:Companies in the S&P 500 Dividend Aristocrats Category:Companies listed on the New York Stock Exchange Category:Retail companies established in 1928

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