Congratulations to GPC for winning the 2022 Gold Alexander Hamilton Award in Working Capital & Payments!

Genuine Parts Company (GPC) is nearly a century old, but it’s definitely not stodgy. Founded in 1928, the company distributes automotive and industrial parts. For 85 years, GPC’s business was focused on North America, but 2013 marked the start of a global expansion. After acquisitions in Australia and New Zealand, the company began moving into Europe as well.

“I’ve been with Genuine Parts Company for almost 17 years,” says Matt Brigham, vice president and assistant treasurer. “The company has grown significantly, and I’ve seen a lot of changes in that time. It’s been very exciting to experience the transformation of our company.”

When Covid-19 hit in 2020, liquidity in the automotive sector—which comprised about 60 percent of GPC’s revenues at the time—was as tight as in much of the economy. “Like many businesses, we experienced a significant impact to sales,” Brigham explains. “Mobility was limited and consumers weren’t driving, which seriously hampered our revenues. It was uncertain how long the period of disruption would last, and at the same time, we were concerned about whether we would continue to be able to collect on our receivables. We needed to demonstrate to the investment community and all our stakeholders that GPC’s business was sustainable despite the widespread disruption.”

Meg Waters

Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.

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