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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Wed., Oct. 5, 2:23 PM

Slide #3. Standard Motor Products, Inc. Kade Trading GmbH

Acquirer: Standard Motor Products, Inc. (NYSE:SMP)
Acquiree: Kade Trading GmbH
Details: Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today that it has acquired 100% of the capital stock of Kade Trading GmbH, headquartered in Glinde, Germany. Founded in 2004, the company has operated across Europe as a supplier of mobile temperature control components to commercial vehicle, passenger car and specialty equipment markets, and has been a distributor of SMP products including electric compressors, hose assemblies and receiver dryers. The company generated approximately $6 million in annual revenue during 2021. SMP will fund the acquisition in cash through borrowings under its revolving credit facility.

Standard Motor Products is an automotive parts manufacturer and distributor of engine management and temperature control systems of motor vehicles in the automotive aftermarket industry. Co. is organized into two operating segments. Co.'s engine management segment manufactures and distributes a line of components for ignition, such as electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils. Co.'s temperature control segment manufactures and distributes a line of components for the temperature control (air conditioning and heating) systems, engine cooling systems, power window accessories and windshield washer systems of motor vehicles.

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Company Name:  Standard Motor Products, Inc.
Stock buyback:  SMP buyback
Sector:  Auto Parts
Number of ETFs Holding SMP:  50
Total Market Value Held by ETFs:  $149.52M
Total Market Capitalization:  $715.00M
% of Market Cap. Held by ETFs:  20.91%

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October 5, 2022    2:23 PM Eastern
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Strong Buy (4.00 out of 4)
74th percentile
(ranked higher than approx. 74% of all stocks covered)

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