Standex International Takes Full Control of Narayan Powertech
Standex International Corporation has finalized its acquisition of the remaining 9.9% stake in Narayan Powertech, an Indian manufacturer of electrical transformers. The transaction, valued at approximately $64 million, grants the New Hampshire-based firm complete ownership of the specialized transformer producer as it seeks to expand its global grid infrastructure portfolio.
The deal follows an earlier integration effort that combined Narayan’s manufacturing capabilities with the Standex Grid division. David Dunbar, President and CEO of Standex, pointed to the successful alignment of teams and their focus on scaling production to meet rising customer demand. According to the company, the move is intended to leverage a broader international footprint and a more diverse product range.
Chirag Shah, the founder and current Managing Director of Narayan Powertech, will remain with the business as it operates under the Standex umbrella. Narayan Powertech, based in India, specializes in low and medium voltage instrument transformers, a critical component for modern electrical grid systems. Standex International, which maintains operations across four continents, continues to consolidate its position in the energy and industrial manufacturing sectors through this latest investment.
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