Capstone Partners LLC, an award-winning investment banking firm, announced that it has successfully advised Empire Wire and Supply (Empire) on its acquisition by EIS, Inc. (EIS), a wholly owned subsidiary of Genuine Parts Company (NYSE:GPC). Terms of the deal were not disclosed.
Empire provides custom cable assemblies and offers a diverse range of products and turn-key solutions for the connectivity, automation and control, wire and cable, safety and solar markets. Since launching as a cable distributor in Michigan, Empire has matured into a leading manufacturer and automation distributor with locations in the US, Canada and Mexico.
“I am thoroughly thankful we partnered with Capstone to do this transaction,” Bob Brewster Jr., family member, shareholder and Vice President of Empire stated. “Capstone’s commitment to this deal all the way through to the end, as well as the team’s candor and leadership, truly was the difference on how this deal ended up.”
EIS distributes process materials, production supplies, specialty wire and cable and value-added fabricated parts to customers in electrical OEM, electronic, motor repair, wire and cable, and various assembly markets. Founded in 1950 in Georgia, EIS became a subsidiary of automotive replacement parts giant Genuine Parts Company (GPC) in 1998. Today, EIS offers over 100,000 critical products, operating 39 branches and 6 fabrication facilities throughout North America.
“Empire complements the Wire and Cable business at EIS and further strengthens our overall capabilities to serve the industrial robotic and automation markets,” Paul Donahue, President and CEO of GPC, noted in the GPC press release. “Their talented team has built a great business, which we intend to grow together, and we are pleased to welcome them to the EIS and GPC family.”