Standard Motor Products to acquire Nissens for $388 million

The acquisition aims to create a global leader in thermal management products, expected to be accretive to SMP's EPS in the first year

Standard Motor Products Inc. (SMP), a US-based automotive parts manufacturer and distributor, has announced its definitive agreement to acquire Nissens, a leading European manufacturer and distributor of aftermarket engine cooling and air conditioning products, for approximately $388 million in cash, according to a press release dated July 10.