© mikael damkier dreamstime.com Business | October 05, 2018
Standex acquires high-reliability magnetics provider
Standex International Corporation says that it has acquired New Hampshire-based Regional Mfg. Specialists, a provider of high-reliability magnetics under the name Agile Magnetics, for USD 39.0 million.
Privately held Agile Magnetics realised revenues of USD 17.2 million for the trailing twelve-month period ending August 31, 2018. Agile Magnetics’ management team will be continuing with the company. “The addition of Agile Magnetics is an important step forward in building out the high reliability magnetics business of Standex Electronics,” says Standex Chief Executive Officer David Dunbar, in a press release. “As a result of this combination, Standex Electronics broadens its exposure to several high-growth end-markets and adds a valuable manufacturing and sales base in the Northeast. Additionally, we see exciting opportunities to drive sales synergies by offering complementary products from Standex’s broader portfolio to Agile’s customer base. We have looked at many high reliability magnetics businesses and Agile’s deep expertise in custom engineered solutions and strong, collaborative customer relationships makes it an excellent fit for our organization. We welcome Agile’s management and team of approximately 80 employees to the Standex family,” David Dunbar adds. Agile Magnetics provides high-reliability magnetics including transformers, inductors and coils for mission critical applications for blue chip OEMs. Agile Magnetics serves semiconductor, military, aerospace, healthcare, industrial and commercial customers, and operates one manufacturing facility in New Hampshire. “Joining a world-class leader like Standex provides a global presence, deeper pool of resources and the ability to improve our competitive position in a variety of markets,” says Agile’s CEO James Atwood. “Our new broader set of capabilities and technology offerings will enable us to form deeper partnerships, better meet our customers’ needs and optimize our supply chain.”
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