Standex Q1 sales down 7.7% but record gross margin; acquires Amran/Narayan for $462M

STANDEX INTERNATIONAL CORP/DE/

Acquired Amran Instrument Transformers and Narayan Powertech for ~$462M combined enterprise value; 85-90% cash.
Acquisition expected to be immediately accretive to revenue, EBITDA margin, EPS and FCF; Amran/Narayan CY2024 revenue ~$100M with >40% adjusted EBITDA margin.
Q1 FY2025 sales $170.5M (-7.7% YoY); record gross margin 41.1%; GAAP diluted EPS $1.53, adjusted $1.71.
Quarterly dividend raised 6.7% to $0.32 per share, payable Nov 22, 2024 to holders of record Nov 8, 2024.
Pro forma fast-growth end markets now ~25% of sales; consolidated adjusted EBITDA margin expected to expand >200bps in first full year.

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