Standex International Acquires Full Ownership of Narayan Powertech

By Greg Peters • Friday, July 03 16:03 • 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 focused on meeting customer demand, while Narayan’s management said the combination with Standex Grid has created a stronger player in the transformer market with a broader global footprint and wider product portfolio.

Narayan Powertech makes low-voltage and medium-voltage instrument transformers used in electrical grid applications. Standex said the acquisition strengthens its position in the transformer industry through increased scale and reach. 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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