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ATLANTA – Genuine Parts Company (NYSE: GPC announced today that its Power Group, EIS, Inc., has acquired the shares in Cobra Cable, Inc. Merit Capital Partners and Capital Fulton, starting today.
Cobra, based in Hatboro, Pennsylvania, is a specialty wire and cable broadcasting service telecommunication, battery and uninterruptible power supply (UPS and marine markets. Among its clients are served from three distribution centers with one in Hatboro, Pennsylvania (Philadelphia, Plano, Texas (Dallas and Seattle, Washington (Seattle. The company expects the acquisition of the business to generate annual revenues of approximately $ 43 million.
Thomas C. Gallagher, president and CEO of Genuine Parts Company, stated, "Bob Thomas, president and chief executive of the EIS, and his team to continue growing its business in specialty wire and cable blank adjacent markets. We are very happy with their Progress in this area and welcome the team of Cobra and the original family EIS Parts Company. "
EIS is one of the leading distributors in North America to process materials, production inputs and value-added fabricated parts. In addition to wire and cable, EIS main markets are the OEM electrical, appliance repair and diverse markets in the Assembly. EIS provides over 100,000 products of 38 branches and critical three manufacturing facilities in North America.
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