Standex International Corporation has acquired the remaining 9.9% interest in India-based Narayan Powertech for approximately $64 million. The acquisition completes Standex's ownership of the manufacturer of low voltage and medium voltage instrument transformers. President and CEO David Dunbar expressed satisfaction with the integration of Narayan and Amran, noting that internal teams are focused on meeting customer demand. Narayan Managing Director and Founder Chirag Shah stated that the combined entity creates a stronger player in the transformer industry with a larger global footprint and broader portfolio.
Standex International CorporationStandex acquires remaining 9.9% of Narayan Powertech for $64M, completing full ownership.