On October 29, 2024, Standex International Corporation (NYSE:SXI) disclosed in an 8-K filing the completion of separate acquisitions of Amran Instrument Transformers based in the U.S. and Narayan Powertech Pvt. Ltd in India. The combined enterprise value of these transactions amounted to approximately $462 million, with the cash component financed through a mixture of cash-on-hand, existing credit facilities, and a new $250 million 364-day term loan with current lenders.
The acquisitions were finalized through cash and stock transactions, signifying a strategic move by Standex International Corporation to expand its global presence and offerings. Following these transactions, Standex released a press statement on October 29, 2024, which provided more insights into the details and implications of the acquisitions.
This press release may contain forward-looking statements within the context of the Private Securities Litigation Act of 1995, emphasizing the potential risks and uncertainties involved in such transactions. Standex International Corporation encourages a thorough review of the information provided in the press release and its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, to fully comprehend the factors influencing the corporation’s actual results.
The company’s Chief Financial Officer, Ademir Sarcevic, signed the report on behalf of Standex International Corporation on October 29, 2024, underscoring the company’s commitment to transparency and compliance with regulatory standards. Standex International Corporation continues to demonstrate its strategic vision and commitment to growth through these recent acquisitions.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Standex International’s 8K filing here.
About Standex International
Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.
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