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Standex Acquires Sensor Solutions – Standex Electronics

October 10, 2023

– Standex has acquired Sensor Solutions, a company specializing in programmable magnetic Hall and specialty sensors, for $9.7 million.– This acquisition will enhance Standex’s technical and application expertise in sectors such as electric vehicles, industrial automation, and medical end markets.

Standex International Corporation has purchased Sensor Solutions, a Colorado-based company known for its custom sensor capabilities. The deal, worth approximately $9.7 million, was financed from Standex’s existing cash reserves. Standex expects the acquisition to slightly increase its earnings in the first year and contribute to its consolidated free cash flow.

Sensor Solutions’ products include programmable magnetic Hall and specialty sensors which are customized to meet the demand for smart technologies manufacturing. Their products are used in various sectors such as electric vehicles, industrial automation, and medical end markets.

David Dunbar, President and CEO of Standex, said, “We are very pleased to have acquired Sensor Solutions, a great strategic fit which further expands our technical and applications expertise and range of customer solutions in high value, growing sectors such as electric vehicles.”

Dave Lorenzen, President of Sensor Solutions, also expressed optimism about the acquisition. He stated, “We are excited to join a global leader that provides a very strong foundation for our continued growth. Standex’s ownership offers us the opportunity to leverage a much larger geographical presence, substantial engineering capabilities and complementary product offerings.”

Sensor Solutions was founded in 1993 and offers more than 6,000 unique magnetic sensors and accessories. It is headquartered in Steamboat Springs, Colorado with approximately 15 employees.

The acquisition of Sensor Solutions will strengthen Standex’s portfolio of innovative solutions and customer value propositions in the electronics segment. This move will have significant implications for the electric vehicle industry by providing enhanced technical solutions through advanced sensor technology.