Zeppos Rautiola represents Annex in $11.5 million acquisition
NEW YORK, N.Y. — Standard Motor Products, Inc. (NYSE: SMP) announced that it has acquired the assets of Annex Manufacturing, a privately held company, for approximately $11.5 million. Annex, located in Fort Worth, Texas, distributes a variety of temperature control products for the automotive aftermarket.
In addition and as part of this acquisition, SMP formed and capitalized a $14 million 50/50 joint venture with Gwo Yng Enterprise Co. Ltd., a China-based manufacturer for the automotive OEM/OES markets.
Demo Zeppos, partner at Zeppos Rautiola LLP, represented Annex as lead counsel in facilitating the above transactions, which included negotiating the payment terms, structuring the purchase agreements, tax structure and post-closing agreements, as well as exit-planning services for the owners.