Standard Motor (SMP) to Expand Portfolio With Nissens Buyout

Per Eric Sills, chairman and CEO of Standard Motor, the acquisition will expand SMP's range of powertrainneutral products. The company intends to keep Nissens functioning as an independent unit while utilizing the combined strengths of both companies to achieve cost savings and increase revenues. The transaction values Nissens at about 7.5x adjusted EBITDA, considering estimated cost synergies of $10 million. The acquisition is expected to boost SMP's GAAP EPS in the first full year and should be completed ...