Standard Motor Products agrees to buy Nissens Automotive for $388 million in cash
On July 5, 2024, Standard Motor Products agreed to acquire Nissens Automotive, a European aftermarket parts supplier, for €360 million (about $388 million) in cash on a cash-free, debt-free basis. The company will fund the deal with its credit facility, including a new $125 million term loan, and closing is subject to competition and regulatory clearances, with an outside date of April 1, 2025.
Key points
- Purchase price of €360 million (about $388 million), subject to adjustment at closing
- Amended credit agreement adds a $125 million Term A-2 Loan maturing five years after funding
- Company presentation cites Nissens annual revenues of about $260 million and an estimated 7.5x Adjusted EBITDA multiple including run-rate cost synergies of $10 million
- Company expects closing by the end of 2024; agreement can be terminated if closing has not occurred by April 1, 2025
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 10, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.