Standard Motor Products, an automotive replacement parts manufacturer and distributor, announced that on May 27, it closed on its acquisition of General Cable Corp.’s automotive ignition wire business for approximately $71 million, subject to post-closing adjustments.
The acquisition, first announced on May 24, was funded through borrowings under its revolving credit facility. The acquisition includes the purchase of General Cable’s automotive ignition wire business in North America, as well as a subsidiary in Mexico.
