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Subsequent Event
6 Months Ended
Jun. 30, 2024
Subsequent Event [Abstract]  
Subsequent Event
Note 19. Subsequent Event

In July 2024, we entered into an agreement to acquire Nissens Automotive, for €360 million (approximately $388 million) in cash, subject to adjustment at closing.  We expect to fund the entire purchase price and related transaction costs with borrowings under our Credit Agreement.  For additional information on our Credit Agreement see Note 9, “Credit Facilities and Long-Term Debt”.  The transaction is expected to be completed by the end of 2024, subject to regulatory approval and customary closing requirements.

Nissens Automotive is a leading European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies.  Nissens Automotive is headquartered in Denmark, with manufacturing facilities in Slovakia and Denmark, and warehouses and distribution centers across multiple countries, primarily in Europe. Nissens Automotive employs approximately 530 employees worldwide.