Standex International Acquires Full Ownership of Narayan Powertech

By Ahmed Jamerson • Friday, July 03 13:03 • Permanent Link

Standex International said it has bought the remaining 9.9% stake in India-based Narayan Powertech for about $64 million, giving it full ownership of the transformer maker.

The deal follows Standex’s earlier integration of Narayan and Amran, which the company said has gone smoothly. Standex said its internal teams are now focused on meeting customer demand, while Narayan’s management said the combination with Standex Grid has created a stronger position in the transformer industry.

Narayan Powertech makes low-voltage and medium-voltage instrument transformers for the electrical grid. Standex described the acquisition as adding to its global footprint and product breadth in the transformer business. Following these announcements, the company's shares moved -5.91%, and are now trading at a price of $327.87. For the full picture, make sure to review STANDEX INTERNATIONAL CORP/DE/'s 8-K report.

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