Standex to acquire Sanyu Switch Co.
Standex has entered into a definitive agreement, through its Japanese subsidiary, to acquire privately held, Japan-based Sanyu Switch Co., Ltd.
The transaction is expected to close before the end of January 2024, subject to required regulatory approvals. Standex says that it expects the acquisition to be accretive to its earnings and to achieve a double-digit return on invested capital in its first year of ownership.
"We are very pleased to be acquiring Sanyu which strengthens Electronics' relay product line and technology. Sanyu's customer base and product line are highly complementary to our existing business with the potential to further expand key account relationships and capitalize on cross-selling opportunities. Sanyu brings complementary engineering and manufacturing capabilities and will strengthen our global footprint," says President and CEO David Dunbar, in a press release.
Sanyu Switch designs and manufactures reed relays, test sockets, and testing systems for semiconductor and other electronics manufacturing, as well as other switching applications.
"Standex's ownership offers us the opportunity to expand our geographic reach, gain additional engineering expertise, and add complementary product offerings for our customer," says Akira Unoki, Representative Director of Sanyu Switch.