Standard Motor draws on revolver to fund $40 million acquisition

By Robert S. Johnson

Princeton, N.J., April 1 – Standard Motor Products Inc. drew down on its revolving credit facility to fund its acquisition of some assets and liabilities of Stoneridge Inc.’s Pollak business, according to a news release.

The company said it paid $40 million in the deal.

Standard Motor Products is an automotive replacement parts manufacturer and distributor based in Long Island City, N.Y.

Stoneridge is a Novi, Mich.-based maker of electrical and electronic components for automobiles, trucks, motorcycles and agricultural vehicles.

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