Standard Motor Products to acquire Nissens Automotive
Listed on the New York stock exchange, SMP 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. SMP's automotive aftermarket business is comprised of two segments, Vehicle Control and Temperature Control, while their 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.
Founded in 1921 and headquartered in Horsens, Denmark, Nissens Automotive is the leading European supplier of thermal management and engine efficiency products fully focused on servicing the resilient and steadily growing independent automotive aftermarket. Nissens Automotive operates with a distinct multi-brand strategy with offerings to passenger car as well as commercial vehicle applications.
SMP's acquisition of Nissens Automotive unites two 100+ year old companies which with the combined business will be the aftermarket leader in North America and Europe in thermal management products. SMP plan to continue operating Nissens as a stand-alone unit, while leveraging the combined strength of the two companies to realize both cost and revenue synergies. The management of both SMP and Nissens Automotive believes that they together can accelerate growth through cross-selling their product offerings, realize cost reduction through combined resources, and achieve enhanced operational excellence though collaboration and best practices.
Closing of the transaction is subject to customary regulatory approvals.
Plesner's core M&A team on the transaction was Henrik Rossing Lønberg, Alexandra Jakobsen, Morten Boesgaard and Anne Vorup.