Standex International Corp. has purchased substantially all of the assets of Cincinnati-based CIN-TRAN Inc., a manufacturer of custom UL/CSA-approved low-frequency transformers.
CIN-TRAN customers include the lighting, lawn service, and water heater controls markets. Standex expects that the acquisition will be accretive to earnings in the first year. CIN-TRAN, which had annual revenues of approximately $4 million, will be part of the company’s Standex Electronics Group. Terms of the acquisition agreement were not disclosed. The CIN- TRAN acquisition by the Electronics Group joins other recent acquisitions ATR Coil, Classic Coil, and ATC-Frost.
Standex chairman of the board and CEO Edward J. Trainor said, “The acquisition of CIN-TRAN expands the Standex Electronics transformer product line and broadens our market opportunities in this area. Through this acquisition, we expect to penetrate new markets with Standex’s present line of transformers and sell CIN-TRAN’s products into the markets that we currently serve. In addition, we plan to leverage our infrastructure to enable CIN-TRAN to manufacture and distribute its products more efficiently and competitively.”
“Going forward, our strategy is to focus on acquiring companies that have highly complementary lines of engineered products and that open new markets for Standex,” said Trainor.
For more information, contact www.standex.com.