Standard Motor Products completed the acquisition of Nissens from Axcel for $390m.

Standard Motor Products, an automotive parts manufacturer, completed the acquisition of Nissens, an aftermarket engine cooling and air conditioning products manufacturer, from Axcel, a private equity company, for $390m. "We are very pleased to announce the closing of the Nissens acquisition. With this combination, we create an aftermarket leader in North America and Europe across our key product categories. The strength of Nissens' leadership team and overall cultural fit will allow for immediate collaboration on opportunities for growth through cross-selling as well as bi-directional synergies with significant savings potential. We welcome Nissens and its employees to the SMP family," Eric Sills, Standard Motor Products Chairman and CEO.