Simpson Thacher is representing Dorman Products, Inc. (NASDAQ:DORM) in its acquisition of Dayton Parts, for total consideration of $338 million in cash, subject to certain adjustments. The transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in the second half of 2021.
Dorman is a leading brand in the automotive aftermarket, covering both light-duty and heavy-duty vehicles, from chassis to body, from underhood to undercar, and from hardware to complex electronics, with a 100-year legacy of aftermarket participation. Dayton Parts offers undercarriage and other related products for commercial vehicles in the United States and Canada, representing one of the most comprehensive single-source product offerings available in the independent commercial vehicle aftermarket.
The Simpson Thacher team includes Jakob Rendtorff, Alan Klein and Owen Kim (M&A); Michael Vernace and Andrea Valdes (Credit); Andrew Blau, Scott Schilson and Guanxiong Xu (Executive Compensation and Employee Benefits); Benjamin Rippeon and Edward Grais (Tax); Adeeb Fadil and Tim Mulvihill (Environmental); Lori Lesser, Corina McIntyre and Raul Duran (IP); Sara Razi, Kelly Karapetyan, John Goheen and Tomi Mendel (Antitrust); and Steve DeLott (Insurance). Summer Associates Ashley Jaramillo and Elizabeth Trask provided valuable assistance.