Standex International, a diversified industrial manufacturer based in New Hampshire, acquired Amran and its subsidiary Narayan Powertech Pvt Ltd for $462 million on August 7, 2026. The deal aims to bolster Standex's presence in the high-growth electrical-grid market and enhance its engineering and manufacturing capabilities in India.
| Acquirer | Standex International (US) |
| Target | Amran (IN, US), Narayan Powertech Pvt Ltd (India) |
| Type of Deal | Acquisition |
| Deal Value | $462m |
| Closing Date | August 7, 2026 |
| Purchase Consideration | 85% cash and 15% Standex common stock for Amran; 90.1% of Narayan with approximately $262 million in cash initially and an additional 9.9% interest in Narayan at approximately US$64 million later. |
| Advisors | Klecha & Co (Buy-side Financial Advisor), GCA Advisors (Sell-side Financial Advisor); Khaitan (Legal Buy-Side and Sell-Side) |
Deal Mechanics
The acquisition involved two stages. In the first stage, Standex acquired 85% cash and 15% common stock for Amran and secured a majority stake of 90.1% in Narayan with approximately US$262 million in cash. The second phase completed the full ownership with an additional $64 million paid in cash for the remaining 9.9% interest in Narayan.
Strategic Rationale
The deal enhances Standex's position in the electrical-grid market by expanding its engineering and manufacturing capabilities in India, a high-growth region for grid modernization and data center demand. Amran and Narayan are recognized manufacturers of low- to medium-voltage instrument transformers used extensively in smart-grid infrastructure.
Financial Context
The acquired businesses have grown at an annual rate of about 30% over the past three years, with a projected revenue of $100 million in 2024 and an EBITDA margin exceeding 40%. Standex projects this acquisition will be immediately accretive to its revenue growth, earnings per share (EPS), operating margins, free cash flow, and overall profitability.
Advisors
- Klecha & Co.: Buy-side financial advisor for Standex International.
- GCA Advisors: Sell-side financial advisor for Amran/Narayan Group.
- Khaitan: Legal advisors to both the buy and sell sides of the transaction.