Motion Industries, Inc., a wholly owned subsidiary of Genuine Parts Company, announced today that it has entered into a definitive agreement to acquire Apache, Inc., headquartered in Cedar Rapids, Iowa. Execution of the transaction will occur on November 1, 2017.
Founded in 1963, Apache offers over 50 years of experience in the industrial hose and belting business. Apache has grown to one of the largest belting companies in North America and is widely recognized across the country for the variety and quality of their hose, belting, custom fabrications, on-site belting services, and consumer products. Apache serves both the industrial and agricultural market from seven sales and production locations in the U.S. through an established distribution network and will continue to do so going forward.
Tom Pientok, Apache’s President and CEO, commented about the acquisition, "We have had a great relationship with the Motion team for many years and this step is really a continuation of our growth strategy. We will preserve and build on the long-standing reputation of the Apache name and we’ll now have access to greater capabilities for accelerated growth. Becoming part of Motion will also assure that our employees will be well-cared for in the future and that we will have the ability to continue to service our customers and represent our supplier partners in the way which they are accustomed."
Tony Cefalu, Senior Vice President of Shops and Services for Motion Industries noted that, "The addition of Apache further enhances our value-added offering in our belting and hose business. We have known Tom and his team for a long time and we couldn’t ask for a better or more talented group to partner with."