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Genuine Parts Company Genuine Parts Company Enters Definitive Agreement to Acquire Kaman Distribution Group Strategic and Highly Synergistic Transaction Creates a Premier Leader in Industrial Solutions Significantly Enhances Scale and Strengthens Market - Leading Position Creates Opportunities for Accelerated Organic Growth and Margin Expansion Company to Host Conference Call Today at 8:30 a.m. EDT ATLANTA , Dec. 16 , 2021 / PRNewswire / -- Genuine Parts Company ( NYSE : GPC ) ( " GPC " ) , a leading distributor of automotive and industrial replacement parts , announced today that it has entered into a definitive agreement under which its wholly - owned subsidiary , Motion Industries , Inc. ( " Motion " ) 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 . The waiting period under the Hart - Scott - Rodino Antitrust Improvements Act of 1976 has expired . " We are excited to announce this strategic investment in our Industrial business , " said Paul Donahue , Chairman and Chief Executive Officer of GPC . " Motion's highly synergistic acquisition of KDG significantly enhances our scale and further strengthens our market - leading position . In addition , this combination creates opportunities for accelerated long - term growth , profitability and cash flow . Our Motion team , led by Randy Breaux , is eager to bring together the world - class talent and industrial expertise of these two organizations to build an even stronger business . We look forward to extending our leadership position and creating significant shareholder value together as a premier leader in industrial solutions . " 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 . Headquartered in Bloomfield , CT , KDG's 1,700 employees serve more than 50,000 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 . Other transaction highlights include : • $ 50M + annual run - rate synergies , expected to be achieved over three years • Anticipated leverage at closing of ~ 2x , within range of GPC targeted levels • Funded at closing via existing revolver and accounts receivable sales agreement • Expected to maintain liquidity in excess of $ 2 billion Ben Mondics , President and Chief Executive Officer of KDG , stated , " Motion is a nationally recognized brand and a market leader in industrial distribution . We are very pleased to combine our two great businesses and leverage our collective resources and expertise to accelerate profitable growth . We appreciate the exceptional efforts of our employees who make our company so great , and we are confident Motion is the natural partner for continued long - term success . " Advisors Greenhill & Co. , LLC is acting as financial advisor to GPC and King & Spalding is acting as legal counsel . Baird is serving as financial advisor to KDG and Gibson , Dunn & Crutcher LLP is serving as legal counsel .