Standard Motor Products Acquires Trombetta For $108 Mln - Quick Facts

(RTTNews) - Automotive parts maker Standard Motor Products, Inc. (SMP) announced Tuesday that it has acquired 100% of the capital stock of Trumpet Holdings, Inc., a Delaware corporation (more commonly known as Trombetta Corp), for $108 million, subject to certain post-closing adjustments.

Trombetta is a worldwide leader in providing power switching and power management products to OE customers in various markets. Trombetta generates approximately $60 million in annual revenue, and has manufacturing facilities in Milwaukee, Wisconsin, Sheboygan Falls, Wisconsin, and Tijuana, Mexico, as well as a majority ownership in a joint venture in Wuxi, China.

Trombetta's product portfolio includes well-established electromechanical parts such as contactors and voltage regulators, along with cutting edge electronic components including various electronic controls and CAN bus-enabled devices.

Standard Motor said the acquisition fits very well with its strategy to expand beyond its core aftermarket business into related markets, and is highly complementary with its recent Pollak acquisition.

Standard Motor will fund the acquisition in cash through borrowings under its revolving credit facility and anticipates the acquisition to be accretive to earnings in 2021.