Standex to acquire Sanyu Switch Co., terms not disclosed

Standex International announced that it has entered into a definitive agreement, through its subsidiary Standex Electronics Japan Corporation, to acquire privately-held, Japanese-based Sanyu Switch Co., Ltd.. The transaction is expected to close before January 31, 2024, subject to required regulatory approvals. 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. Standex intends to fund the acquisition from its existing cash balance.