STANDEX ACQUIRES CUSTOM BIOGENIC SYSTEMS

SALEM, N.H., Nov. 14, 2024 /PRNewswire/ — Standex International Corporation (NYSE:SXI) nowadays introduced that it has got Michigan-based Customized Biogenic Programs (“CBS”) for roughly $6.2 million in money. The transaction is being financed from Standex’s current money stability. In its first age of possession, the Corporate expects the purchase to be accretive to its profits. CBS might be reported as a part of Standex’s Medical industry branch.

“We are pleased to have acquired Custom Biogenic Systems, extending the reach of our scientific refrigeration business with a presence within the liquid nitrogen and controlled rate freezer markets and expanding our North American manufacturing capabilities. The business aligns with our customer intimacy approach and is highly complementary to our existing business,” commented President and Important Government Officer David Dunbar.

Based in 1987, Customized Biogenic Programs is a pace-setter within the design and production of laboratory merchandise and provides. CBS focuses on the advance and production of complicated cryogenic apparatus, together with distinctive Isothermal freezers with hardened liquid nitrogen era, to the pharmaceutical and biobank finish markets inside past sciences. In calendar age 2024, Customized Biogenic Programs estimates revenues of roughly $15 million.

“With today’s announcement, we have expanded our addressable market within our Scientific business with the addition of a brand leader in cryogenic storage, with over thirty years of industry experience. Considering its adjacent scientific product offering, complementary nature to our existing products, and its engineering and manufacturing capabilities, we are excited about our long-term combined potential together. We look forward to welcoming the entire CBS team to our company,” concluded Dunbar.

About Standex

Standex International Corporation is an international multi-industry producer in 5 extensive industry branchs: Electronics, Engraving, Medical, Engineering Applied sciences, and Strong point Answers with operations in the US, Europe, Canada, Japan, Singapore, Mexico, Turkey, Republic of India, and China. For spare data, talk over with the Corporate’s web page standex.com.

About Customized Biogenic Programs

Headquartered in Bruce Township, Michigan, Custom Biogenic Systems designs and manufactures laboratory merchandise and provides, which come with cryogenic freezers, isothermal freezers and regulated price freezers. For spare data, talk over with the Corporate’s web page at http://www.custombiogenics.com.

SOURCE Standex Global Company