STANDEX ACQUIRES CUSTOM BIOGENIC SYSTEMS
Standex International (NYSE:SXI) has acquired Michigan-based Custom Biogenic Systems (CBS) for $6.2 million in cash, financed from existing cash balance. CBS, a leader in cryogenic equipment manufacturing with estimated $15 million in revenues for 2024, will be integrated into Standex's Scientific business segment. The acquisition expands Standex's scientific refrigeration business into liquid nitrogen and controlled rate freezer markets. CBS specializes in developing advanced cryogenic equipment with dry liquid nitrogen technology for pharmaceutical and biobank markets. The acquisition is expected to be earnings accretive in the first year.
Standex International (NYSE:SXI) ha acquisito la Michigan-based Custom Biogenic Systems (CBS) per 6,2 milioni di dollari in contante, finanziato con il saldo di cassa esistente. CBS, leader nella produzione di attrezzature criogeniche con un fatturato stimato di 15 milioni di dollari per il 2024, sarà integrata nel segmento Scientifico di Standex. L'acquisizione espande il business di refrigerazione scientifica di Standex nei mercati dell'azoto liquido e dei congelatori a tasso controllato. CBS si specializza nello sviluppo di attrezzature criogeniche avanzate con tecnologia a azoto liquido secco per i mercati farmaceutici e delle biobanche. Si prevede che l'acquisizione sarà redditizia già nel primo anno.
Standex International (NYSE:SXI) ha adquirido la empresa Custom Biogenic Systems (CBS) con sede en Michigan por 6,2 millones de dólares en efectivo, financiado con el saldo de caja existente. CBS, líder en la fabricación de equipos criogénicos con unos ingresos estimados de 15 millones de dólares para 2024, se integrará en el segmento científico de Standex. La adquisición expande el negocio de refrigeración científica de Standex en los mercados de nitrógeno líquido y congeladores de tasa controlada. CBS se especializa en el desarrollo de equipos criogénicos avanzados con tecnología de nitrógeno líquido seco para los mercados farmacéuticos y de biobancos. Se espera que la adquisición sea lucrativa en el primer año.
스탠덱스 인터내셔널(심볼: SXI)은 미시간에 본사를 둔 커스텀 바이오제닉 시스템(CBS)을 620만 달러에 현금으로 인수했으며, 이는 기존 현금 잔액으로 자금을 조달했습니다. CBS는 2024년 예상 수익이 1500만 달러인 냉동 장비 제조 분야의 선두주자로, 스탠덱스의 과학 부문에 통합될 것입니다. 이 인수는 스탠덱스의 과학 냉장 비즈니스를 액체 질소 및 저온 조절 냉동기 시장으로 확장합니다. CBS는 제약 및 생물은행 시장을 위한 건조 액체 질소 기술을 활용한 고급 냉동 장비 개발을 전문으로 합니다. 이 인수는 첫 해에 수익성을 제공할 것으로 예상됩니다.
Standex International (NYSE:SXI) a acquis Custom Biogenic Systems (CBS), basé au Michigan, pour 6,2 millions de dollars en espèces, financés par le solde de trésorerie existant. CBS, un leader dans la fabrication d'équipements cryogéniques avec des revenus estimés à 15 millions de dollars pour 2024, sera intégré dans le segment scientifique de Standex. Cette acquisition élargit l'activité de réfrigération scientifique de Standex sur les marchés de l'azote liquide et des congélateurs à taux contrôlé. CBS se spécialise dans le développement d'équipements cryogéniques avancés avec la technologie de l'azote liquide sec pour les marchés pharmaceutiques et des biobanques. On s'attend à ce que l'acquisition soit bénéfique dès la première année.
Standex International (NYSE:SXI) hat das in Michigan ansässige Unternehmen Custom Biogenic Systems (CBS) für 6,2 Millionen Dollar in bar erworben, finanziert aus der bestehenden Barreserve. CBS, ein führender Hersteller von kryogenem Equipment mit geschätzten 15 Millionen Dollar Umsatz für 2024, wird in das wissenschaftliche Segment von Standex integriert. Die Übernahme erweitert das Geschäft von Standex im Bereich wissenschaftliche Kühlung in die Märkte für flüssigen Stickstoff und kontrollierte Gefriergeräte. CBS ist spezialisiert auf die Entwicklung von hochwertigen kryogenen Geräten mit trockener flüssiger Stickstofftechnologie für die Pharma- und Biobankmärkte. Es wird erwartet, dass die Akquisition im ersten Jahr gewinnbringend ist.
- All-cash acquisition of $6.2 million funded from existing cash balance
- Expected to be earnings accretive in first year
- Target company has estimated revenues of $15 million in 2024
- Expands addressable market in scientific refrigeration segment
- Adds new capabilities in liquid nitrogen and controlled rate freezer markets
- None.
Insights
The acquisition of Custom Biogenic Systems (CBS) represents a strategic expansion into the cryogenic storage market for Standex. At
This acquisition strengthens Standex's Scientific segment by adding complementary products in liquid nitrogen and controlled rate freezer markets. The immediate earnings accretion and cash-based financing structure suggest minimal financial risk. CBS's specialization in cryogenic equipment for pharmaceutical and biobank markets provides Standex with exposure to growing life sciences sectors.
The deal enhances vertical integration and manufacturing capabilities in North America, potentially leading to operational synergies and improved market positioning against competitors.
CBS's specialized cryogenic storage technology, particularly their Isothermal freezers with dry liquid nitrogen technology, addresses critical needs in biobanking and pharmaceutical research. The biobank market is experiencing significant growth due to increased demand for biological sample storage in drug development and personalized medicine.
Their 30+ years of experience and established presence in the life sciences sector provides Standex with immediate credibility and technical expertise in high-value cryogenic applications. This acquisition positions Standex to capitalize on the expanding requirements for ultra-low temperature storage solutions in drug development, cell therapy and biospecimen preservation.
"We are pleased to have acquired Custom Biogenic Systems, extending the reach of our scientific refrigeration business with a presence within the liquid nitrogen and controlled rate freezer markets and expanding our North American manufacturing capabilities. The business aligns with our customer intimacy approach and is highly complementary to our existing business," commented President and Chief Executive Officer David Dunbar.
Founded in 1987, Custom Biogenic Systems is a leader in the design and manufacturing of laboratory products and supplies. CBS specializes in the development and manufacturing of advanced cryogenic equipment, including unique Isothermal freezers with dry liquid nitrogen technology, to the pharmaceutical and biobank end markets within life sciences. In calendar year 2024, Custom Biogenic Systems estimates revenues of approximately
"With today's announcement, we have expanded our addressable market within our Scientific business with the addition of a brand leader in cryogenic storage, with over thirty years of industry experience. Considering its adjacent scientific product offering, complementary nature to our existing products, and its engineering and manufacturing capabilities, we are excited about our long-term combined potential together. We look forward to welcoming the entire CBS team to our company," concluded Dunbar.
About Standex
Standex International Corporation is a global multi-industry manufacturer in five broad business segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions with operations in
About Custom Biogenic Systems
Headquartered in
View original content to download multimedia:https://www.prnewswire.com/news-releases/standex-acquires-custom-biogenic-systems-302306288.html
SOURCE Standex International Corporation
FAQ
How much did Standex (SXI) pay for Custom Biogenic Systems?
What is Custom Biogenic Systems' estimated revenue for 2024?
Will the CBS acquisition be accretive to Standex's (SXI) earnings?
Which Standex segment will Custom Biogenic Systems be part of?
