WASHINGTON (dpa-AFX) - Standex International Corporation (SXI) Wednesday announced that it has acquired McStarlite Co., a California-based provider of complex sheet metal aerospace components, for approximately $56.5 million in cash. The acquisition was financed through Standex's existing credit revolver and is expected to be accretive to earnings in its first year.
McStarlite, which generated approximately $33 million in revenue in 2024 with an adjusted EBITDA margin above 20 percent, will operate under Standex's Engineering Technologies Group. The company specializes in forming large, complex sheet metal components for commercial aviation, space, and defense applications.
SXI closed Wednesday's trading at $195.48 up 1.86 percent or $3.57 on the New York Stock Exchange.
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