Wolf Theiss advises Standard Motor Products on its acquisition of European Aftermarket Supplier Nissens Automotive

Warsaw, 16 July 2024 – Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, has entered into a definitive agreement to acquire AX V Nissens III APS (“Nissens”) for approximately USD 388 million in cash from Nordic private equity firm Axcel and the Nissen family.

The transaction values Nissens at approximately USD 388 million, representing approximately 7.5x adjusted EBITDA after factoring in estimated run-rate cost synergies at the mid-point of USD10 million. The transaction is expected to be completed in the second half of 2024, subject to certain closing conditions, including receipt of applicable antitrust and other regulatory approvals.

Wolf Theiss is acting as local counsel regarding Polish, Hungarian, Slovak and Ukrainian aspects of the transaction. Hughes Hubbard & Reed LLP is the lead transaction counsel and Plesner Advokatpartnerselskab is the lead European counsel to Standard Motor Products.

The Wolf Theiss Corporate M&A team is led by Partners Izabela Zielińska-Barłożek and Maciej A. Szewczyk.  The core team also includes Partners János Tóth and Bruno Štefánik, Senior Associate Péter Ihász and Associate Michał Pypka.