New York-based automotive parts manufacturer and distributor
Standard Motor Products, Inc. acquired
Trombetta, Inc., a Milwaukee-based DC power products manufacturer.
Trombetta’s products include DC contactors, voltage regulators, industrial solenoids and electronic controls used in the power sport, agriculture and construction, electric vehicle, heavy truck, marine and hydraulic power pack sectors.
SMP purchased Trombetta in a $108 million all-stock deal, according to a press release. Trombetta generates about $60 million in annual revenue and has manufacturing facilities in Milwaukee, Sheboygan Falls, Tijuana, Mexico, as well as a majority ownership in a joint venture in Wuxi, China.
The company’s resources and expertise will allow SMP to expand its core aftermarket business with the addition of Trombetta’s electronic controls and Controller Area Network (CAN)-based communication technologies.
An attractive element of Trombetta is that few of its products are powertrain-related, meaning its business is mostly unaffected by the shift from internal combustion engines, SMP said in a statement.
"This acquisition also provides us with an increased global manufacturing footprint, additional engineering talent, a well-connected sales organization, and a strong and seasoned leadership team,” SMP CEO and president Eric Sills said in a statement.
Trombetta’s leadership team, operations and footprint will remain the same following the acquisition, an SMP spokesperson said.
SMP is an independent manufacturer and distributor of replacement parts for the automotive aftermarket. The company generates about $1.1 billion an annual revenue, has approximately 4,400 employees and operates in more than 25 facilities around the world.
