STANDEX ACQUIRES REMAINING INTEREST IN NARAYAN POWERTECH
Standex (NYSE:SXI) announced the acquisition of the remaining 9.9% interest in India-based Narayan Powertech, a manufacturer of low and medium voltage instrument transformers, for approximately $64 million.
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Rhea-AI Summary
Standex (NYSE:SXI) announced the acquisition of the remaining 9.9% interest in India-based Narayan Powertech, a manufacturer of low and medium voltage instrument transformers, for approximately $64 million.
According to Standex, the deal fully consolidates Narayan, supports its Standex Grid business, and enhances global footprint and portfolio breadth in transformers.
Positive
- Acquisition of final 9.9% of Narayan Powertech for approximately $64 million
- Narayan and Standex Grid combination expands global footprint and transformer portfolio breadth
- Management highlights smooth integration of Narayan and Amran and ongoing leadership continuity
Negative
- None.
Details
News Market Reaction – SXI
On Jul 6, the first trading day after this news, SXI closed 2.47% below the previous close.
Data tracked by StockTitan Argus for the Jul 6 session.
Key Figures
- Remaining stake acquired
- 9.9%
- Ownership interest in Narayan Powertech
- Purchase price
- $64 million
- Acquisition of remaining Narayan Powertech interest
Previous Acquisition Reports
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Announcement of Federal Industries acquisition expanding food and beverage footprint.
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Cash acquisition of McStarlite to broaden aerospace components portfolio.
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Purchase of Custom Biogenic Systems to expand cryogenic equipment offerings.
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Amran and Narayan acquisitions to grow electrical grid market presence.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
instrument transformers technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
"We are pleased with the smooth integration of Narayan and Amran. Our internal teams are completely focused on meeting customer demand now and in the future," said David Dunbar, President and Chief Executive Officer of Standex.
"Narayan and Standex Grid have created a stronger player in the transformer industry, with the ability to leverage a larger global footprint and portfolio breadth to create increased value for our customers," added Chirag Shah, Managing Director of Narayan Powertech and Founder. "I am thrilled to continue the journey with other key team members as part of a global leader like Standex."
About Standex
Standex International Corporation is a multi-industry manufacturer in four broad business segments: Electronics, Aerospace & Defense, Scientific, and Engraving & Hydraulics with operations in
About Narayan
Narayan Powertech Pvt. Ltd, designs and manufactures low voltage and medium voltage transformers for products focused on the electrical grid. For additional information, visit the Company's related website at narayanpowertech.com.
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SOURCE Standex International Corporation
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