RTTNews | Sep 1, 2021 06:52AM EDT

06:52 Wednesday, September 1, 2021 (RTTNews.com) - Standard Motor Products, Inc. (SMP), an automotive parts manufacturer, announced Wednesday the acquisition of Germany's Stabil Operative Group GmbH. The financial terms of the deal were not disclosed.

It is anticipated the acquisition will be accretive to earnings per share in 2022.

Stabil is a manufacturer and distributor of a variety of components, including electronic sensors, control units, and clamping devices to the European OE market. The company, with around 230 employees, generates around $25 million in annual revenue and has facilities in Germany and Hungary. We welcome Stabil and its approximately 230 employees to the SMP family."

SMP expects to fund the acquisition in cash through borrowings under its revolving credit facility.

Eric Sills, Standard Motor Products' Chief Executive Officer and President, said, "Stabil gives us exposure to a diversified group of blue chip European commercial and light vehicle OE customers, provides us with experienced sales and engineering teams, expands our product portfolio, increases our global manufacturing footprint, and creates positive synergies with our existing operations in Poland."

Read the original article on RTTNews ( https://www.rttnews.com/3222486/standard-motor-products-buys-germany-s-stabil-group-for-undisclosed-terms.aspx)

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