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GENUINE PARTS COMPANY (GPC) ACQUIRES 35% OF INENCO GROUP
30 March 2017
On behalf of the Inenco Board and our shareholders – the Martin‐Weber Family – I am delighted to inform you of an important change to the ownership structure of our group.
Since founding CBC Pty Ltd in 1954, the Martin‐Weber family has provided ongoing management, investment and guidance to the Inenco Group. They have built a market leading group of companies with unparalleled positions in Australia and New Zealand, and a growing footprint in South East Asia. We have many great brands, fantastic employees and highly valued customers.
The next chapter for our Group is to invite a new Shareholder into the Boardroom – Genuine Parts Company (GPC) as we seek to secure and improve our leading position for decades to come.
GPC is a hugely successful corporation operating in the United States, Canada, Australasia and Mexico. GPC’s values and principles closely align to our own: they invest in people, are customer centric, and are long term investors. GPC will bring leading IT solutions, world class supply chain and procurement processes, and an appetite to invest in profitable growth across the markets that we serve. They will also assist us in developing our marketing & training programs.
GPC has operated the world’s number one industrial parts distribution business, Motion Industries since 1976, providing the Inenco Group with a partner who brings exceptional knowledge and know‐ how. GPC are also experienced Australia/New Zealand investors, having undertaken the highly successful purchase of the Exego Group of companies (now GPC Asia Pacific) in the 2012‐14 period. Under GPC’s ownership and support, the GPC Asia Pacific Australian and New Zealand businesses, that include Repco and Ashdown‐Ingram, have flourished, with an impressive recent track record.
The sale of 35% of the Inenco Group is the first step towards a future 100% divestment. The Martin‐ Weber Family is still the majority shareholder and remains on the Board. All employment contracts remain unchanged.
We will work closely with GPC and Motion Industries’, as well as GPC Asia Pacific’s experts to drive growth that is sustainable. We will seek synergies across our supply chain and we will prioritise an upgrade of our IT platforms where necessary.
Please join me in welcoming the GPC family into the Inenco world. Senior management will be conducting Road Shows in the coming weeks to give you a thorough understanding of this exciting partnership and how it will benefit the company, our customers and our employees.
Roger Jowett Inenco Group CEO
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico and Australasia. The Company also distributes industrial replacement parts in the U.S., Canada and Mexico through its Motion Industries subsidiary. S. P. Richards Company, the Office Products Group, distributes business products in the U.S. and Canada. The Electrical/Electronic Group, EIS, Inc., distributes electrical and electronic components throughout the U.S., Canada and Mexico. Genuine Parts Company had 2016 revenues of $15.3 billion ($USD). GPC
About Motion Industries
With annual sales of $4.6 billion ($USD), Motion Industries is a leading industrial parts distributor of bearings, mechanical power transmission, electrical and industrial automation, hydraulic and industrial hose, hydraulic and pneumatic components, industrial products, safety products, and material handling. Motion Industries has over 550 operations including 15 distribution centres throughout North America and serves more than 150,000 customers from the food and beverage, pulp and paper, iron and steel, chemical, mining and aggregate, petrochemical, automotive, wood and lumber, and pharmaceutical industries.
About GPC Asia Pacific
GPC Asia Pacific is Australasia’s preferred and trusted supplier of aftermarket vehicle parts, solutions and accessories with annual sales of $1.45 billion ($AUD). GPC Asia Pacific’s largest businesses include Repco who operate over 450 stores
Kevin joined the Board as Chairman in 2013. He has extensive experience in industrial distribution,marketing and manufacturing and has served as chief executive officer of two public industrial companies. Under his stewardship as Chief Executive Officer of Alesco Corporation Limited from 1995 to 2006, the business grew from a market cap of $70 million to $700 million. Kevin is also Chairman of Acculec Group P/L and has been Chairman of three other industrial companies over the last decade. He holds a Masters of Business Administration (Cum Laude) degree and a Bachelor of Science (Civil Engineering) degree.
Roger joined as CEO in June 2014. He has extensive experience managing operations for major security companies both in the Netherlands 2000-2003 and Australia 2003–2011. Roger held a Managing Director role for a major security services company, (part of the Chubb group) until 2007. During this role he led the diverse electronic security business with a strong focus on recurring revenue growth and service margin improvement. Roger then progressed to spending 3 years as CEO of a security monitoring group. From 2011 Roger led a group with businesses which included Spectrum Fire & Security, Cowley Services and Trilogy Servicing who have a strong presence across Australia and New Zealand in the HVAC, Refrigeration and Fire Protection services markets.
He holds a Masters of Business Administration degree and a Bachelor of Arts Hons (Languages and Political Studies) degree.
Paul Donahue was appointed Chairman of the Board of Directors of Genuine Parts Company in April 2019 and currently serves as Chairman and Chief Executive Officer. Mr. Donahue was elected President and Chief Executive Officer in May 2016 and, in 2012, was elected President.
Mr. Donahue joined S. P. Richards Company, Genuine Parts Company’s business products group, as Executive Vice President Sales and Marketing in 2003. He was soon after appointed President and Chief Operating Officer, a position he held until his election to Executive Vice President of Genuine Parts Company in 2007.
From 2009 to 2015, Mr. Donahue was President of the company’s U.S. Automotive Parts Group.
Mr. Donahue began his career with the Newell Companies in 1978 and held numerous sales and management roles. He was Vice President of Sales from 1991-1996 with Newell Office Products and then named Vice President of Sales for Sanford North America in 1997. Mr. Donahue was President of Sanford North America from 1998-2002.
Mr. Donahue is an active supporter of The United Way and the Boy Scouts of America. He is also a member of SunTrust Bank’s Board of Directors, the Shepherd Center Foundation Board of Trustees, and the Carter Center Board of Councilors.
John Moller has had a prolific career in the corporate world and has held senior management positions in Honeywell, James Hardie Industries, Adsteam, Repco and most recently GPC.
From 2007 John was Managing Director and CEO of the Repco Group and following the Group’s acquisition in 2013 by Genuine Parts Company headquartered in the USA, John is now the Non-Executive Chairman of GPC Asia Pacific. John is also on the board of IXOM, the market leader in water treatment and chemical distribution in Australia and New Zealand and the Monash Children’s Hospital foundation. John joined the Inenco Group Board in March 2017.
John’s years of tertiary education earned him a Bachelor of Engineering from the University of Adelaide, followed by a Graduate Diploma in Marketing and a Masters of Management from Macquarie University in Sydney.
Tom Gallagher is Chairman of the Board of Genuine Part Company (GPC) and joined the Inenco Group board in March 2017. Tom has enjoyed an extensive and progressive career with GPC. Commencing in 1970 as a management trainee, he has experience across all facets of the business and has worked in many different locations across the USA and Europe. His extensive management experience culminated in his appointment as President and COO in 1990; President and CEO in 2004; Chairman, President and CEO in 2005; Chairman and CEO in 2012 and now Chairman in May 2016. Tom is a valued director of several boards outside of the GPC group. His achievements have been recognized with numerous prestigious awards such as the ADL Torch of Liberty in 2002, a Distinguished Service Citation from the Automotive Hall of Fame in 2003 and being inducted into the GAMCO Asset Management Hall of Fame in 2016. Tom is a Graduate of University of Maryland – 1970 with a BS in Marketing; Minor in Finance & Economics.
Sammy Hamzah joined the Inenco board in May 2016 as a Non-Executive Director. Sammy brings many years of leadership and industry experience to Inenco having worked with companies such as Rio Tinto & Siemens in senior executive roles. He is currently the CEO and Co-Founder of Indonesian energy company, Ephindo. Sammy resides in Indonesia and will play a pivotal role in continuing Inenco’s success in Asia.