Standard Motor Products, Inc. Completes Acquisition Of European Aftermarket Supplier Nissens Automotive
Standard Motor Products (NYSE: SMP) has completed the acquisition of Nissens, a European manufacturer and distributor of aftermarket engine cooling and air conditioning products, for approximately $390 million (€360 million). The acquisition from Nordic private equity firm Axcel and the Nissen family positions SMP as an aftermarket leader in North America and Europe. The company expects to benefit from cross-selling opportunities and bi-directional synergies with significant savings potential.
Standard Motor Products (NYSE: SMP) ha completato l'acquisizione di Nissens, un produttore e distributore europeo di prodotti per il raffreddamento del motore e per il condizionamento dell'aria aftermarket, per circa 390 milioni di dollari (360 milioni di euro). L'acquisizione da parte della società di private equity nordica Axcel e della famiglia Nissen posiziona SMP come leader nel mercato aftermarket in Nord America e in Europa. L'azienda prevede di beneficiare di opportunità di cross-selling e sinergie bidirezionali con un potenziale significativo di risparmio.
Standard Motor Products (NYSE: SMP) ha completado la adquisición de Nissens, un fabricante y distribuidor europeo de productos de refrigeración de motores y aire acondicionado de posventa, por aproximadamente 390 millones de dólares (360 millones de euros). La adquisición de la firma de capital privado nórdica Axcel y la familia Nissen posiciona a SMP como líder en el mercado de posventa en América del Norte y Europa. La compañía espera beneficiarse de oportunidades de venta cruzada y sinergias bidireccionales con un potencial significativo de ahorros.
스탠다드 모터 제품 (NYSE: SMP)이 유럽의 엔진 냉각 및 에어컨 제품의 애프터마켓 제조업체이자 유통업체인 니센스를 약 3억 9천만 달러 (3억 6천만 유로)에 인수했습니다. 노르딕 사모펀드 악셀과 니센 가족으로부터의 인수로, SMP는 북미와 유럽에서 애프터마켓 리더로 자리매김하게 됩니다. 회사는 교차 판매 기회 및 양방향 시너지 효과로부터 혜택을 받을 것으로 예상하며, 상당한 절감 잠재력을 가지고 있습니다.
Standard Motor Products (NYSE: SMP) a finalisé l'acquisition de Nissens, un fabricant et distributeur européen de produits de refroidissement de moteur et de conditionnement d'air sur le marché secondaire, pour environ 390 millions de dollars (360 millions d'euros). L'acquisition de la part de la société de capital-investissement nordique Axcel et de la famille Nissen positionne SMP comme leader du marché après-vente en Amérique du Nord et en Europe. L'entreprise s'attend à bénéficier d'opportunités de vente croisée et de synergies bidirectionnelles, avec un potentiel d'économies significatif.
Standard Motor Products (NYSE: SMP) hat die Übernahme von Nissens, einem europäischen Hersteller und Distributor von Aftermarket-Produkten für Motorenkühlung und Klimaanlagen, für etwa 390 Millionen US-Dollar (360 Millionen Euro) abgeschlossen. Die Übernahme von der nordischen Private-Equity-Firma Axcel und der Familie Nissen positioniert SMP als Marktführer im Aftermarket in Nordamerika und Europa. Das Unternehmen erwartet, von Cross-Selling-Möglichkeiten und bi-direktionalen Synergien mit einem erheblichen Einsparpotenzial zu profitieren.
- Strategic acquisition valued at $390 million strengthens market position
- Expansion into European aftermarket creates dual-continent leadership
- Expected synergies and cost savings through operational integration
- Cross-selling opportunities across markets
- Complementary product portfolio expansion
- Substantial capital expenditure of $390 million may impact short-term financials
- Assumed debt from acquisition could affect balance sheet metrics
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The acquisition provides immediate scale in Europe's aftermarket sector, particularly in engine cooling and air conditioning products. With Nissens' established presence and SMP's North American infrastructure, the combined entity can leverage bi-directional opportunities for margin expansion through operational efficiencies and cross-selling initiatives. The timing aligns with increasing demand for aftermarket parts amid aging vehicle fleets globally.
The European automotive aftermarket presents substantial growth potential, with Nissens' strategic position in engine cooling and climate control systems complementing SMP's portfolio. This acquisition creates a transatlantic powerhouse in key product categories, enabling market share expansion in both regions. The deal's structure, involving both private equity and family ownership, suggests a well-established business with strong fundamentals.
The emphasis on vehicle control technologies indicates forward-thinking positioning in advanced automotive systems, important as vehicles become increasingly complex. The cultural alignment mentioned is particularly important for post-merger integration and achieving projected synergies in this cross-border acquisition.
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
About Standard Motor Products
Standard Motor Products is the leading manufacturer and distributor of premium replacement parts in the automotive aftermarket and a custom-engineered solutions provider to vehicle and equipment manufacturers in diverse non-aftermarket end markets. Its automotive aftermarket business is comprised of two segments, Vehicle Control and Temperature Control, while its Engineered Solutions Segment offers a broad array of conventional and future-oriented technologies in markets for commercial and light vehicles, construction, agriculture, power sports, and others. For more information about Standard Motor Products, please visit www.smpcorp.com.
About Nissens Automotive
Nissens is the leading European supplier of thermal management and engine efficiency products fully focused on servicing the resilient and steadily growing independent automotive aftermarket. The Company operates with a distinct multi-brand strategy with offerings to passenger car as well as commercial vehicle applications. Nissens is headquartered in Horsens,
Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Standard Motor Products cautions investors that any forward-looking statements made by the company, including those that may be made in this press release, are based on management's expectations at the time they are made, but they are subject to risks and uncertainties that may cause actual results, events or performance to differ materially from those contemplated by such forward-looking statements. Among the factors that could cause actual results, events or performance to differ materially from those risks and uncertainties discussed in this press release are those detailed from time-to-time in prior press releases and in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K and quarterly reports on Form 10-Q. By making these forward-looking statements, Standard Motor Products undertakes no obligation or intention to update these statements after the date of this release.
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SOURCE Standard Motor Products, Inc.
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