SMP completes $397M acquisition of Nissens Automotive; pro forma revenue $1.34B YTD Sep 2024

STANDARD MOTOR PRODUCTS, INC.

Purchase price €366M ($397M) after closing adjustments for Nissens Automotive, a European engine cooling and AC aftermarket company.
Pro forma combined net sales for nine months ended Sep 30, 2024: $1.34B vs SMP standalone $1.12B; pro forma diluted EPS from continuing ops $2.98 vs $2.45.
Acquisition financed via new $750M credit agreement with JPMorgan; borrowings include $200M USD and €100M delayed draw term loans.
Pro forma goodwill and intangibles increase by $44M and $193M respectively; total assets rise to $1.96B from $1.35B.
Transaction expected to be accretive; net earnings attributable to SMP for nine months pro forma $41.6M vs $29.7M historical (incl. discontinued ops loss).

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