Standex acquires remaining 9.9% of Narayan Powertech for $64M cash

STANDEX INTERNATIONAL CORP/DE/

Acquired remaining 9.9% interest in Narayan Powertech for ~$64M cash, gaining 100% ownership.
Original share swap for minority stake abandoned after RBI approval not obtained by Oct 2025; put/call options replaced with direct cash purchase.
Narayan is a manufacturer of low/medium voltage instrument transformers; combined with Standex Grid to create stronger global transformer player.
Closing occurred July 2, 2026; Shareholders' Agreement terminated with no early termination penalty.
CEO David Dunbar and MD Chirag Shah comment on smooth integration and increased customer value.

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