ATLANTA — Genuine Parts Company (NYSE: GPC) announced today that its Electrical Group, EIS, Inc. (“EIS”), has acquired the stock of Cobra Wire & Cable, Inc. (“Cobra”) from Merit Capital Partners and Fulton Capital, effective today.
Cobra, headquartered in Hatboro, Pennsylvania, is a specialty wire and cable distributor serving the telecom, battery and uninterruptible power supply (UPS) and marine markets. Its customers are served from three distribution facilities, with one in Hatboro, Pennsylvania (Philadelphia), Plano, Texas (Dallas) and Tukwila, Washington (Seattle). The Company expects the acquired business to generate annual revenues of approximately $43 million.
Thomas C. Gallagher, Chairman, President and Chief Executive Officer of Genuine Parts Company, stated, “Bob Thomas, President and CEO of EIS, and his management team continue to grow their specialty wire and cable business into targeted adjacent markets. We are pleased with their progress in this area and welcome the Cobra team to the EIS and Genuine Parts Company family.”
EIS is one of North America's leading distributors of process materials, production supplies and value added fabricated parts. In addition to wire and cable, primary markets for EIS are the electrical OEM, apparatus repair and various assembly markets. EIS supplies over 100.000 critical products from 38 branches and three fabrication facilities located in North America.