Standex International Acquires Full Ownership of Narayan Powertech

By Ahmed Jamerson • Saturday, July 04 13:03 • Permanent Link

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

The transaction follows Standex’s earlier integration of Narayan and Amran, which the company said is already underway and focused on meeting customer demand. With the purchase, Standex now fully owns Narayan, a manufacturer of low-voltage and medium-voltage instrument transformers used in the electrical grid.

Management said the deal expands the combined transformer business’s global reach and product range. Narayan’s founder and managing director, Chirag Shah, said the company will continue operating as part of Standex after the acquisition.

Narayan Powertech specializes in transformers for grid applications, while Standex operates across electronics, aerospace and defense, scientific, and engraving and hydraulics. The market has reacted to these announcements by moving the company's shares -5.91% to a price of $327.87. Check out the company's full 8-K submission here.

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