The $7 billion merger continues the trend of auto parts suppliers bulking up in the race toward autonomous vehicles.
The deal will "create a competitive automotive supplier which is extremely well placed among the global Top Ten.”
The deal is the latest shakeup in the auto parts business, with Tenneco planning to split into two companies after it is completed.
The auto parts retailer is the No. 1 distributor in Europe but rival Genuine Parts has been moving into that territory.
The retailer's same-store sales fell 0.8% in the third quarter, the fifth straight quarter they have missed analysts' estimates.
As part of its largest-ever transaction in Japan, the private-equity firm will acquire Nissan's 41% stake in Calsonic Kansei for $1.87 billion.
