<b>Standex acquires US and India transformer makers for $462M landmark two-stage deal, largest in company history.</b>

M&A / JV 28 Oct 2024 (first closing); 2 Jul 2026 (second closing)· $462 million · Completed· ✓ Verified

Standex acquired 100% of Amran at the US level and, through its wholly owned Singapore subsidiary Mold-Tech Singapore Pte. Ltd., acquired 90.1% of Narayan at the India level in simultaneous transactions announced at a combined enterprise value of approximately $462 million. The consideration for Amran comprised 85% cash and 15% Standex common stock, while the initial acquisition of 90.1% of Narayan was completed for cash consideration of approximately $262 million. At second closing on July 2, 2026, Mold-Tech acquired the remaining 9.9% interest in Narayan for approximately $64 million in cash. The 10% share exchange related to Narayan Powertech was subject to India regulatory approval,…

Why it mattersA two-stage closing structure with FX-linked regulatory gates-particularly the RBI 10% stock consideration holdback dependent on foreign exchange approvals-exemplifies how cross-border deal counsel sequences documentation, closings, and shareholder rights termination across parallel US and Indian regulatory windows.
CounselKhaitan & Co, Lexygen, Chamberlain Hrdlicka (Chamberlain, Hrdlicka, White, Williams & Aughtry, P.C.), Bradley Arant Boult Cummings, Foley Hoag, Shugarman Advisors
SectorIndustrials
Value$462 million
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