Standex Acquires Minntronix
Standex International Corporation (NYSE:SXI) today announced that it has acquired privately-held, South Dakota-based Minntronix for approximately $30 million in cash. The transaction is being financed from Standex’s existing cash balance. In its first year of ownership, the Company expects the acquisition to be accretive to its earnings and to achieve a double-digit return on invested capital.
Minntronix designs and manufactures customized as well as standard magnetics components and products including transformers, inductors, current sensors, coils, chokes, and filters. The products are used in applications across cable fiber, smart meters, industrial control and lighting, electric vehicles, and home security markets.