Stinson Leonard Street Advises Braas in Sale to Motion Industries
MINNEAPOLIS (Oct. 14, 2016)—Stinson Leonard Street represented Braas Company, a 100 percent ESOP-owned entity, in its sale to Motion Industries (MI), the industrial parts group of Genuine Parts Company (NYSE:GPC).
Braas Company is a leading multi-regional distributor of products and services for industrial automation and control, specializing in pneumatics, motion control, industrial networking, machine safety, robotics and related industrial parts.
Founded in 1961, Braas Company is based in Eden Prairie, Minnesota, and serves thousands of customers throughout the Midwest and Southeastern United States from a network of five sales offices and three warehouses. The company will continue to operate as a separate division under the MI umbrella.
Matt Gallagher, the president of Braas Company, said the acquisition will allow Braas to leverage MI's resources in order to support growth goal and increase value for customers and vendors.
"As part of MI, we will continue to execute on the strategies that have made Braas successful since 1961; namely, “Knowledge at the point of sale”," Gallagher said in a statement announcing the sale.