News
Genuine Parts Completes Sale of SP Richards, Impact Products
June 30, 2020Genuine Parts Co. has completed the divestment of its S.P. Richards Co. operations through two separate transactions.
S.P. Richards’ core U.S. operations have been sold to an independent investor group led by industry professionals. S.P. Richards’ Supply Source Enterprises business, which includes The Safety Zone and Impact Products LLC, has been divested to an affiliate of H.I.G. Capital. Financial details of the transactions were not disclosed.
“The sale of S.P. Richards represents the further streamlining of our operations and a significant step forward in our long-term strategy to optimize our portfolio,” said Paul Donahue, Genuine Parts CEO. “With this divestiture, we will continue to opportunistically expand our global footprint and strengthen our focus on sustainable, value-driving initiatives associated with our faster growing and higher margin automotive and industrial businesses.”
About S.P. Richards
S.P. Richards Co. is a Smyrna, Georgia-based wholesaler of business products and cleaning supplies. For more information, visit www.sprichards.com.
About The Safety Zone
Founded in 1973, The Safety Zone is a Guilford, Connecticut-based direct importer and manufacturer of supplies and devices for safety, medical, and food processing applications. For more information, visit www.safety-zone.com.
About Impact Products
Founded in 1963, Toledo, Ohio-based Impact Products LLC manufactures and supplies floor products for the sanitary maintenance, safety, and food service markets. For more information, visit www.impact-products.com.
