Standex International Corporation (NYSE:SXI), a global multi-industry manufacturer in Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions, acquired Minntronix, a South Dakota-based provider of transformers, inductors, sensors, coils, chokes, and filters, for approximately $30m in cash.
The transaction is being financed from Standex’s existing cash balance. In its first year of ownership, the company expects the acquisition to be accretive to its earnings and to achieve a double-digit return on invested capital.
Led by Lew Tollefson, President and CEO, Minntronix designs and manufactures customized as well as standard magnetics components and products including transformers, inductors, current sensors, coils, chokes, and filters. The products are used in applications across cable fiber, smart meters, industrial control and lighting, electric vehicles, and home security markets.
Led by President and Chief Executive Officer David Dunbar, Standex International is a global multi-industry manufacturer in five broad business segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Brazil, Turkey, South Africa, India, and China.
FinSMEs
01/08/2023