Standex (SXI) Acquires Meder Electronic Group; Sees Deal Accretive to EPS in FY13, FY14
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Price: $51.35 --0%
EPS Growth %: -48.8%
Financial Fact:
Selling, general and administrative expenses: 39.75M
Today's EPS Names:
DSX, REDF, REX, More
EPS Growth %: -48.8%
Financial Fact:
Selling, general and administrative expenses: 39.75M
Today's EPS Names:
DSX, REDF, REX, More
Trade SXI Now!
Standex International Corporation (NYSE: SXI) today announced that it has acquired Meder Electronic Group (“Meder”), which designs, manufactures and distributes a broad offering of magnetic reed switch, reed relay and reed sensor solutions in an all-cash transaction.
Terms for the acquisition were not disclosed.
Meder reported sales of €46 million for calendar 2011 and an EBITDA margin in excess of 13%. The Company expects Meder to be accretive to earnings in the range of $0.08 to $0.12 per diluted share in fiscal 2013 and $0.26 to $0.31 in fiscal 2014.1 Meder offers significant sales synergies as well as cost synergies resulting from expected procurement and infrastructure savings.1
In addition, the combination of Meder Electronic and Standex Electronics results in a much stronger global organization with significantly enhanced sales and profitability growth prospects as a result of:
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Terms for the acquisition were not disclosed.
Meder reported sales of €46 million for calendar 2011 and an EBITDA margin in excess of 13%. The Company expects Meder to be accretive to earnings in the range of $0.08 to $0.12 per diluted share in fiscal 2013 and $0.26 to $0.31 in fiscal 2014.1 Meder offers significant sales synergies as well as cost synergies resulting from expected procurement and infrastructure savings.1
In addition, the combination of Meder Electronic and Standex Electronics results in a much stronger global organization with significantly enhanced sales and profitability growth prospects as a result of:
- Global geographic coverage: Approximately 40% of Meder’s sales are in Germany, with the remaining 60% about equally split between Asia, North America and other European countries. Approximately 85% of Standex Electronics sales are in North America.
- Comprehensive product portfolio: The combination of Meder’s reed switches, reed relays and reed sensors coupled with Standex’s reed switch, magnetic and sensor product lines provides the combined global sales forces with a broader suite of products and technologies to address our customers’ needs.1
- Diverse industry exposure: Meder has been successful in penetrating the test & measurement and household markets while Standex has established a presence in medical as well as military & aerospace. Both companies have achieved success in the automotive industry and in general industrial markets.
- Worldwide sales and engineering infrastructure: The combination of Meder and Standex Electronics results in a global organization with engineering capabilities and sales professionals close to the customer -- enhancing the collaborative development of customer driven engineering solutions.
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