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Genuine Parts Sells Electrical Components Division

Genuine Parts Co., parent company of S.P. Richards Co., has agreed to sell its EIS electrical components subsidiary to Audax Private Equity.

“The sale of EIS represents the further streamlining of our operations and another step forward in our strategy to optimize our portfolio and strengthen our focus on sustainable, value-driving initiatives,” said Paul Donahue, CEO of General Parts.

Financial details of the transaction, which is anticipated to be finalized by the end of next month, were not disclosed, OPI reports.

About S.P. Richards
S.P. Richards Co. is a Smyrna, Ga- based wholesaler of business products and cleaning supplies. For more information, visit www.sprichards.com.