Standard Motor Products, Inc. Completes Acquisition Of European Aftermarket Supplier Nissens Automotive
Standard Motor Products, Inc. (SMP)
Last standard motor products, inc. earnings: 4/29 08:30 am
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Source: PR Newswire
NEW YORK, Nov. 1, 2024 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, today announced the completion of the previously-announced acquisition of AX V Nissens III APS ("Nissens"), a leading European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. Under the terms of the agreement, SMP has acquired all the issued and outstanding shares of Nissens for approximately $390 million (€360 million), net of cash and assumed debt and subject to post-closing adjustments, from Nordic private equity firm Axcel and the Nissen family.Mr. Eric Sills, Standard Motor Products' Chairman and CEO, stated, "We are very pleased to announce the closing of the Nissens acquisition. With this combination, we create an aftermarket leader in North America and Europe across our key product categories. The strength of Nissens' leadership team and overall
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SMP
Earnings
- 10/30/24 - Beat
SMP
Sec Filings
- 11/12/24 - Form 4
- 11/12/24 - Form 4
- 11/12/24 - Form 4
- SMP's page on the SEC website