General Automotive Company (GNAU.OB) Takes on $265B Automotive Aftermarket Industry with Strategic Acquisition of S.P.E.C. Inc.
General Automotive Company provides aftermarket parts and advanced technology for the North American automotive industry. As part of its strategy to boost organic growth, the company has secured an agreement to acquire Alabama-based S.P.E.C. Inc., a privately held manufacturer, developer and distributor of flywheels, clutches and pressure plates. "The proposed acquisition is a critical milestone in the Company's strategy to acquire established businesses with strong growth and profit potential in the $265 billion automotive aftermarket parts industry," Dan Valladao, president and CEO of General Automotive stated in the press release. S.P.E.C. has established a distribution network of more than 100…