Standex International Acquires Full Ownership of Narayan Powertech

By Philip Seaworth • Monday, July 06 10:52 • 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 is already “smooth.” Chief Executive David Dunbar said internal teams are now focused on meeting customer demand. Narayan founder and Managing Director Chirag Shah said the combination with Standex Grid has created “a stronger player in the transformer industry” with a larger global footprint and broader product portfolio.

Narayan makes low-voltage and medium-voltage instrument transformers used in electrical-grid applications. Standex said the acquisition strengthens its position in the transformer market and adds to its global manufacturing and distribution reach. Following these announcements, the company's shares moved 1.88%, and are now trading at a price of $334.03. For the full picture, make sure to review STANDEX INTERNATIONAL CORP/DE/'s 8-K report.

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