Genuine Parts Company
Company History
Genuine Parts History: Founding, Growth & Key Milestones
Founded 1928 in Atlanta, Georgia, United States
When was Genuine Parts founded?
Genuine Parts was founded in 1928 in Atlanta, Georgia, United States by Carlyle Fraser, Malcolm Fraser and William 'Bill' Martin, making it 98 years old.
- Founded
- 1928
- Founding place
- Atlanta, Georgia, United States
- Founders
- Carlyle Fraser, Malcolm Fraser and William 'Bill' Martin
- Headquarters today
- Atlanta, Georgia
- Milestones documented
- 15 (1928–2026)
- Current CEO
- Will Stengel
- Acquisitions
- 6
| Year | Event |
|---|---|
| 1928 | Founding of Genuine Parts Company |
| 1931 | Used Parts Refurbishment Program |
| 1948 | NAPA Acquisition and IPO |
| 1975 | S.P. Richards Acquisition |
| 1976 | Motion Industries Acquisition |
| 1998 | UAP Inc. Acquisition |
| 2008 | Financial Crisis Navigation |
| 2013 | Exego Group (Repco) Acquisition |
| 2017 | Alliance Automotive Group Acquisition |
| 2019 | EIS Divestiture |
| 2020 | S.P. Richards Divestiture |
| 2021 | Kaman Distribution Group Acquisition |
| 2024 | Will Stengel Becomes CEO |
| 2025 | 70th Consecutive Dividend Increase and Major Charges |
| 2026 | Separation Plan and Post-Split Leadership |
- Where was Genuine Parts founded?
- Genuine Parts was founded in Atlanta, Georgia, United States in 1928. en.wikipedia.org
- Who founded Genuine Parts?
- Genuine Parts was founded by Carlyle Fraser, Malcolm Fraser and William 'Bill' Martin.
- When did Genuine Parts start?
- Genuine Parts was founded in 1928.
- How old is Genuine Parts?
- Genuine Parts is 98 years old as of 2026.
Founding Story
In 1928, Carlyle Fraser recognized a large flaw in the early automotive industry. Henry Ford was building millions of cars, but there was no system in place to repair them when they broke. If a water pump failed in Georgia, the mechanic had to mail a letter to Detroit and wait weeks for the part. Fraser bought a tiny shop in Atlanta and co-founded the National Automotive Parts Association (NAPA). His simple, large idea was to aggregate parts from multiple manufacturers into local warehouses, essentially inventing the modern auto repair industry.
Founders
Carlyle Fraser
Carlyle Fraser founded Genuine Parts Company in Atlanta on May 7, 1928, buying Motor Parts Depot for $40,000 and renaming it. The first store had six employees and posted about $75,000 of sales in its first year. Fraser's idea was that mechanics needed a dependable local source of quality, guaranteed replacement parts at a time when cars were spreading fast but parts supply was disorganized. GPC was an early member of the National Automotive Parts Association (NAPA), founded in 1925, and Fraser served as NAPA's president in 1941-1942. Under his leadership the company survived the Depression, partly by refurbishing used parts, and went public in 1948. Carlyle Fraser was born in 1895.
Malcolm Fraser
Malcolm Fraser was the brother of Carlyle Fraser and co-founder of Genuine Parts Company in 1928. While less prominent in historical records than his brother, Malcolm played an important role in the company's early development, working alongside Carlyle to build the business from a single Atlanta auto parts store into a growing regional distributor. The Fraser brothers shared a vision for quality automotive parts distribution that would define the company's culture for generations. Malcolm's contributions to the founding and early growth of GPC helped establish the operational foundation that would support the company's expansion through the Great Depression and into the post-war boom era. (Exact birth year remains publicly undisclosed).
William 'Bill' Martin
William 'Bill' Martin is credited in some accounts as an early partner in Genuine Parts Company around its 1928 founding in Atlanta. Detailed, verifiable information about his specific contribution is limited, and most historical sources focus on Carlyle Fraser as the company's founder. (Exact birth year remains publicly undisclosed).
Key Milestones
Founding of Genuine Parts Company
Carlyle Fraser purchases Motor Parts Depot in Atlanta, Georgia for $40,000 and renames it Genuine Parts Company. The store opens with six employees and generates $75,000 in revenue in its first year, closing with a modest loss of roughly $2,500. The founding vision is to supply motorists with guaranteed, high-quality replacement parts backed by unconditional guarantees.
Source: en.wikipedia.orgUsed Parts Refurbishment Program
GPC starts refurbishing used parts to help customers afford quality products during the Great Depression. This initiative helps the company survive the economic crisis while building customer loyalty. Sales grow from $339,000 in the early 1930s to $3.18 million by the end of the decade.
Source: en.wikipedia.orgNAPA Acquisition and IPO
GPC acquires a controlling interest in the National Automotive Parts Association (NAPA), transforming from a regional retailer into a national distribution business. The same year, the company goes public, selling 150,000 shares of common stock at $11 per share. Annual sales reach $20 million.
Source: en.wikipedia.orgS.P. Richards Acquisition
GPC acquires S.P. Richards Company, a business products distributor, entering the office supplies market for the first time. This begins the company's diversification beyond automotive parts.
Source: en.wikipedia.orgMotion Industries Acquisition
GPC acquires Motion Industries, a Birmingham-based industrial parts and supplies distributor. This deal establishes GPC as a multi-segment distribution company, reducing dependence on the cyclical automotive aftermarket and creating the foundation for the Industrial Parts Group.
Source: en.wikipedia.orgUAP Inc. Acquisition
GPC acquires UAP Inc., a leading Canadian automotive parts distributor, significantly expanding its presence outside the United States. The UAP deal gives the company a well-established Canadian network of automotive parts warehouses and retail stores.
Source: en.wikipedia.orgFinancial Crisis Navigation
GPC navigates the global financial crisis by using its diversified business model and maintaining dividend growth. The company's stable cash flows and defensive characteristics allow it to continue its dividend streak while many companies cut or suspend payouts.
Source: en.wikipedia.orgExego Group (Repco) Acquisition
GPC acquires the Exego Group, an Australian automotive parts distributor operating under the Repco brand, for approximately $710 million (A$1.1 billion). The deal extends GPC's automotive distribution business into Australasia and establishes the company's Asia Pacific operating platform.
Source: en.wikipedia.orgAlliance Automotive Group Acquisition
GPC acquires Alliance Automotive Group (AAG), a European vehicle parts distributor with 2,100 company-owned stores and affiliated outlets across France, the UK, Germany, and Poland, for approximately $2.0 billion. This is GPC's largest acquisition to that point and gives the company its first significant European footprint.
Source: en.wikipedia.orgEIS Divestiture
GPC divests EIS, Inc., its electrical and electronic materials unit, focusing the company on automotive and industrial distribution. This is part of a strategic portfolio simplification to concentrate on core competencies.
Source: en.wikipedia.orgS.P. Richards Divestiture
GPC sells S.P. Richards (office products), completing the divestiture of non-core businesses. The company now focuses exclusively on automotive and industrial parts distribution, following a failed attempt to merge S.P. Richards with competitor Essendant.
Source: en.wikipedia.orgKaman Distribution Group Acquisition
GPC acquires Kaman Distribution Group, expanding its industrial distribution capabilities and geographic reach. This acquisition strengthens Motion Industries' position in specialized industrial markets.
Source: en.wikipedia.orgWill Stengel Becomes CEO
Will Stengel, who joined GPC in 2019 and later served as President, became President and CEO on June 3, 2024, succeeding Paul Donahue.
Source: en.wikipedia.org70th Consecutive Dividend Increase and Major Charges
GPC raises its dividend for the 70th consecutive year, extending its Dividend King status. However, the company reports GAAP net income of only $66 million due to $1.29 billion in non-recurring charges including a $742 million pension settlement, $150.5 million in First Brands credit losses, and $103.4 million in asbestos liability remeasurement. Full-year sales reach $24.3 billion.
Source: en.wikipedia.orgSeparation Plan and Post-Split Leadership
On February 17, 2026 GPC announced it will separate its Automotive and Industrial businesses into two public companies, targeted for Q1 2027. In September 2026 it named Court Carruthers CEO-elect of the automotive company (GPC) and said Will Stengel will become Chairman and CEO of Motion.
Source: prnewswire.comMajor Acquisitions
National Automotive Parts Association (NAPA) controlling interest
1948GPC acquired a controlling interest in NAPA, transforming the company from a regional retailer into a national distribution business. NAPA was created in 1925 to build a system of auto parts distribution, and the partnership allowed GPC to expand from a single store into a network of distribution centers that bought parts from manufacturers and sold them to independent auto parts stores.
Motion Industries
1976GPC acquired Motion Industries, a Birmingham-based industrial parts and supplies distributor. This deal established GPC as a multi-segment distribution company, reducing dependence on the cyclical automotive aftermarket and creating the foundation for the Industrial Parts Group.
S.P. Richards Company
1975GPC acquired S.P. Richards Company, a business products distributor, entering the office supplies market. This was part of GPC's diversification strategy to reduce dependence on automotive parts distribution.
UAP Inc.
1998GPC acquired UAP Inc., a leading Canadian automotive parts distributor. The deal significantly expanded GPC's presence outside the United States and established a strong Canadian platform for the NAPA brand.
Exego Group (Repco)
2013GPC acquired the Exego Group, an Australian automotive parts distributor operating under the Repco brand, for approximately $710 million (A$1.1 billion). The deal extended GPC's automotive distribution business into Australasia and established the company's Asia Pacific operating platform.
Alliance Automotive Group (AAG)
2017GPC acquired Alliance Automotive Group (AAG), a European vehicle parts distributor with 2,100 company-owned stores and affiliated outlets across France, the UK, Germany, and Poland, for approximately $2.0 billion. This was GPC's largest acquisition to that point and gave the company its first significant European footprint.
Keep researching Genuine Parts
Genuine Parts Company History FAQ
What are the major historical eras of Genuine Parts Company since 1928?
GPC's history spans its founding and Depression-era expansion under Carlyle Fraser (1928-1940s), post-war nationwide distribution growth and 1948 public listing, industrial diversification via Motion Industries under Wilton Looney (1970s), North American consolidation (1980s-2000s), and global multi-continent expansion into Australasia and Europe (2010s-present).
How did Genuine Parts Company support industrial logistics during World War II?
During World War II, GPC played a vital role in maintaining civilian transportation, military vehicle supply chains, and industrial equipment on the home front, managing severe parts rationing to keep American agricultural and industrial machinery operating.
What was the significance of GPC acquiring 100% ownership of the National Automotive Parts Association (NAPA)?
Over several decades, GPC systematically acquired the other independent member distributor companies within NAPA, eventually becoming the sole owner of all NAPA assets, trademarks, distribution centers, and store operations, unifying the NAPA brand under a single corporate umbrella.
How did GPC achieve over six decades of continuous annual dividend increases?
GPC's 68+ year Dividend King streak was built on non-discretionary aftermarket demand, high cash flow conversion, low capital expenditure requirements, disciplined working capital management, and avoiding excessive financial leverage during economic expansions.
How did GPC evolve its branding and corporate identity in the industrial distribution space?
In 2021, GPC rebranded its industrial group from Motion Industries to 'Motion', reflecting its evolution from a traditional mechanical parts distributor into an advanced industrial automation, predictive maintenance, and smart robotics solutions provider.
What was the impact of the 2008-2009 global recession on Genuine Parts Company?
During the 2008-2009 recession, while new vehicle sales collapsed, GPC's automotive business remained resilient as drivers held onto older vehicles and invested in repairs, allowing GPC to generate strong operating cash flow, raise its dividend, and make opportunistic acquisitions.
How has Genuine Parts Company integrated modern automation into its distribution facilities?
GPC has modernized its regional mega-DCs with automated guided vehicles (AGVs), multi-tier automated storage and retrieval systems (ASRS), voice-directed picking systems, and AI-optimized warehouse management software, dramatically accelerating parts dispatch times.
What is Genuine Parts Company's long-term environmental, social, and governance (ESG) commitment?
GPC is committed to reducing supply chain emissions through electric and hybrid local delivery vehicles, expanding sustainable recycling programs for automotive batteries, scrap metals, and used motor oil, and investing in diverse workforce development across its global communities.
How did Genuine Parts Company start?
Genuine Parts Company (GPC) was founded in 1928 by Carlyle Fraser. He purchased a small auto parts store in Atlanta, Georgia, for $40,000. He realized that as the Ford Model T became ubiquitous, millions of Americans would eventually need massive amounts of replacement parts, leading to the creation of the National Automotive Parts Association (NAPA).
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