Magnetics Business & Technology - January/February 2025 - 26

INDUSTRY NEWS
Standex Makes Its Biggest Deal Ever, Acquires Amran/Narayan in USA & India for $462M
Amran and Narayan make an extensive array of transformers,
many of them custom designed and produced for OEMs, at locations
in the USA and India.
Standex International has acquired, in separate transactions,
privately-held US-based Amran Instrument Transformers and
India-based Narayan Powertech Pvt. Ltd. for a combined price
of about $462 million.At locations in the United States and
India, the Amran/Narayan Group manufactures low voltage and
medium voltage instrument transformers. Its custom product
portfolio is specifically designed and developed in partnership
with OEMs for their electrical grid equipment. Their products
have been installed in over 50 countries around the world.
Revenues were about $100 million in 2024 with a profit margin
of more than 40%.
David Dunbar,
President and CEO
of Standex
Dunbar, President and Chief Executive
Officer of Standex. " Amran/Narayan
Group's extensive low to medium voltage
portfolio and engineering expertise fit
within our strategy to accelerate growth
in secular, fast growth end markets. The
combination of Standex and Amran/Narayan
Group continues Standex's portfolio
strategy of focusing our higher-margin
business segments in faster-growing
markets. "
The acquired operations will become part of its electronics
group, Standex Electronics, which is headquartered in Fairfield,
Ohio and will now represent more than 50% of the full company.
It has locations in multiple sites around the world.
" Amran will operate as a key pillar of the combined companies'
low- to medium-voltage instrument transformers business, " said
Bhargav Shah, founder and president of Amran. " Both Standex
and Amran have a centralized focus on long-term customer
relationships and customer-specific new product development,
and together, we are optimistic about our combined resources
to accelerate growth in the electrical grid market. "
" The combination of Narayan Powertech and Standex creates
a strong player in the transformer industry, with the ability to
leverage a larger global footprint and portfolio breadth to create
increased value for our customers, " added Chirag Shah,
founder and managing director of Narayan Powertech. " As part
of the Narayan founding team, I am thrilled to continue the journey
with other key team members as part of a global leader like
Standex. We believe the combination will allow for expanded
growth opportunities, supported by a seamless cultural fit. "
26 Magnetics Business & Technology * January/February 2025
Low-voltage current transformers are among the key products
in the Amran/Naraya Group portfolio. Applications include low
voltage switchgear, panel boards, control panels, motor control
centers, engine generators, transfer switches, UPS.
Medium-voltage current transformers produced by Amran/Narayan
are used in metering and control panels, generators, switchgears,
circuit breakers, motor starters and power systems.
Moving forward, Amran/Narayan Group's founders and leadership
team will remain with the combined company. Their entrepreneurial
know-how, technical skills, and extensive experience
across the transformer industry will benefit the combined company
with its integration efforts, innovation roadmap, and future
growth, says Standex. The combination is expected to create
cross-selling opportunities given the companies' complementary
offerings. There are about 400+ employees in the group
including strong teams in engineering, R&D, design and custom
product development.
Headquartered in Salem, New Hampshire, Standex International
is a global multi-industry manufacturer operating in five
broad business segments -- electronics, engraving, scientific,
engineering technologies, and specialty solutions with operations
in the USA, Europe, Canada, Japan, Singapore, Mexico,
Brazil, Turkey, India, and China.
See www.standex.com.
www.MagneticsMag.com
http://www.standex.com http://www.MagneticsMag.com
Magnetics Business & Technology - January/February 2025

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