Audax Private Equity to acquire Electrical Specialties Group from Genuine Parts Company.

Audax Private Equity, an alternative investment manager, agreed to buy Electrical Specialties Group of Motion Industries, a fabricator, converter and distributor of electrical process materials, from Genuine Parts Company, a distributor of automotive replacement parts. Financial terms were not disclosed. "We believe EIS is a quality organization with an experienced management team, loyal customer base, strong partnerships and a proven M&A platform that will complement our portfolio of industry-leading companies. Audax will provide the expertise and resources to support the EIS leadership team as it continues to broaden its customer base, expand its offerings to adjacent markets and enhance service and support programs for the benefit of all EIS stakeholders." Don Bramley, Audax Managing Director.