NEW YORK — Standard Motor Products Inc. (SMP) has acquired all of the capital stock of Forecast Trading Corp. for approximately $44 million.
Forecast has distribution facilities in Ft. Lauderdale, Fla., and distributes a range of engine management products including ignition coils, ignition modules, switches and sensors and filters.
Commenting on the acquisition, Lawrence Sills, Standard Motor Products’ chairman and CEO, stated, "We are very pleased to announce this acquisition, which we believe will enhance our position as the leading supplier of Engine Management parts to the aftermarket. Forecast has been a successful supplier of value-priced engine management products for 30 years. This segment of the industry is growing, as the vehicle population continues to age and the economic climate remains difficult. Forecast’s expertise in sourcing these products from low cost areas will enable us to compete effectively in this area. By combining Forecast’s value line with our top quality line, we will be able to offer an extremely strong combination to our customers. We believe the acquisition will be accretive to earnings in year one, and will achieve synergies and growth that will enhance shareholder value."
