Motorcar Parts of America, Inc. acquired Dixie Electric Ltd for $8 million.
January 09, 2019
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Motorcar Parts of America, Inc. (NasdaqGS:MPAA) acquired Dixie Electric Ltd. for $8 million on January 9, 2019. Under the terms of the transaction, Motorcar Parts of America paid an initial purchase price of $8.04 million, which is subject to certain working capital adjustments, including up to $1.13 million, Motorcar Parts of America is contingently obligated to pay to the former owners of Dixie over the next two years. Peter Murnen, Vice President of Marketing for Motorcar Parts of America based in the corporate office in California, will relocate to Ontario, Canada to serve as Chief Operating Officer. Rob Wortzman, Rebecca Cochrane and Niall Sweeney of Wildeboer Dellelce LLP acted as legal advisor to Dixie Electric Ltd. KPMG acted as financial advisor to Dixie Electric Ltd.
Motorcar Parts of America, Inc. (NasdaqGS:MPAA) completed the acquisition of Dixie Electric Ltd. on January 9, 2019.
Motorcar Parts of America, Inc. is a supplier of automotive aftermarket non-discretionary replacement parts and test solutions and diagnostic equipment. Its Hard Parts segment includes light duty rotating electric products, such as alternators and starters, wheel hub products, brake-related products, including brake calipers, brake boosters, brake rotors, brake pads and brake master cylinders, and turbochargers. The Test Solutions and Diagnostic Equipment segment includes applications for combustion engine vehicles, including bench-top testers for alternators and starters, equipment for the pre- and post-production of electric vehicles, and software emulation of power system applications for the electrification of all forms of transportation (including automobiles, trucks, and electric vehicle charging stations). Its Heavy Duty segment includes non-discretionary automotive aftermarket replacement hard parts for heavy-duty truck, industrial, marine, and agricultural applications.
MOTORCAR PARTS OF AMERICA, INC. 
