WASHINGTON (dpa-AFX) - Standex International (SXI) has acquired, in separate transactions, privately-held US-based Amran Instrument Transformers and India-based Narayan Powertech Pvt. Ltd. in cash and stock deals. These transactions represent a combined enterprise value of approximately $462 million, comprised of 85% cash and 15% in Standex common stock for Amran Instrument Transformers and 90% cash and 10% in Standex common stock for Narayan Powertech Pvt. Ltd.
With manufacturing locations in the United States and India, Amran/Narayan Group is a manufacturer of low voltage and medium voltage instrument transformers. Amran/Narayan Group will be reported as part of Standex's Electronics business segment. The transactions are projected to be immediately accretive to Standex's revenue growth, EBITDA margin, operating margin, earnings per share and free cash flow in the first full year post closing of the transactions, excluding any acquisition and integration related costs.
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