ProfitQuotes.com
symbol lookup  commodity list
Bookmark This Page
IXC, EWJV: Big ETF Outflows

Thu, 05 Dec 15:52:44 GMT
Wednesday's ETF with Unusual Volume: IGF

Wed, 04 Dec 18:34:08 GMT
Portfolio Channel
Free Energy Dividend Stock Report
Free Dividend Report - Top Ranked Stocks
Free Dividend Paying Gold/Metals Stocks Report
Get a quote box (like the one below) for your site!
ProfitQuotes.com Commodities Quotes
commodity quotes list
energy quotes  gold quotes
uranium stocks  
solar power stocks

wind power stocks

Industry focus:

advertising stocks,
space stocks,
aerospace stock,
aerospace sector,
list of aerospace companies,
largest chemical companies,
chemical stock,
chemical news,
best agriculture stocks,
ag stocks,
chinese agriculture stocks,
top agriculture companies,
agriculture stocks,
agricultural stocks,
agricultural stock,
stocks agriculture,
agriculture markets,
agriculture index,
agriculture industries,
agricultural investment,
agriculture investment,
agricultural industry,
farm stock,
airline stock symbols,
airline stock prices,
airline stock,
airlines stock,
clothing stock,
fashion stocks,
publicly traded fashion companies,
clothing company stocks,
apparel stock,
apparel companies,
application software stocks,
asset management stocks,
auto stocks,
auto industry stocks,
chinese auto stocks,
auto stock prices,
automotive stock,
auto parts stocks,
community bank stocks,
regional bank stocks,
canadian bank stocks,
banking stock,
national bank stocks,
commercial bank stock,
banks stock,
bank stock quote,
bank stocks,
banking industry,
alcohol stocks,
beverage stock,
global wine stocks,
wine stocks,
liquor stock,
biotech stocks list,
biotechnology investing,
public biotech companies,
top biotech stocks,
nanotechnology stock,
largest biotech companies,
biotechnology stock,
biotech investing,
investing in biotech,
best biotech companies,
bio stocks,
biotech sector,
biotechnology investment,
biopharma companies,
new biotech companies,
biotech investment,
biotechnology industries,
nanotech stocks,
biotech stocks,
biotechnology articles,
biotechnology news,
business stocks,
service stocks,
chemical companies,
chemical industries,
chemical industry,
chemical company,
chemicals company,
cigarette stock,
cigarette company stocks,
cigarette stock symbols,
tobacco company stocks,
tobacco stock,
cigar stocks,
communications stocks,
communication stock,
computer peripherals companies,
computer peripherals,
computers stocks,
computer stock,
computer web,
internet stocks,
construction stocks,
machinery stocks,
builders stocks,
building stocks,
consumer goods stocks,
consumer services stocks,
consumer services companies,
lending stocks,
mortgage banking,
lending companies,
mortgage bankers,
loan services,
mortgage services,
mortgage bank,
loan bank,
defense stocks,
defensive stock,
department store stocks,
diagnostic company,
diagnostic companies,
pharmaceuticals stocks,
drug stocks,
drug company stocks,
pharma stock,
education stocks,
college stock,
electric utility stocks,
electric company stocks,
electric utilities stocks,
utility stocks,
utilities stocks,
power equipment companies,
electrical supply companies,
electronic stocks,
entertainment stock,
movie stocks,
movies companies,
movie company,
cefs,
open ended and closed ended mutual funds,
closed ended investment,
closed ended fund,
bonds fund,
closed end,
food stock,
game stock,
gambling stocks,
casino stocks,
gaming stocks list,
gaming stocks,
gas utility companies,
gas company stocks,
construction industries,
builders contractors,
construction services,
construction industry,
grocery store stocks,
supermarket stock,
drug store stocks,
home stocks,
furniture stock,
home improvement stocks,
medical company stocks,
top medical stocks,
medical stock,
hospital stock,
medical supply stocks,
medical technology stocks,
medical device stocks,
medical equipment stocks,
copper mining,
palladium mining stocks,
mining metals,
mining,
mining news,
gold exploration,
mining share price,
lithium mines,
mining industries,
international mining companies,
mining information,
molybdenum mining companies,
nickel mining companies,
metals and mining stocks,
gold and silver mining stocks,
copper mining companies,
rare earth mining companies,
rare metals stocks,
rare earth stocks,
metals stocks,
welding stock,
nonprecious metals,
non metallic mining,
office supplies companies,
office supply companies,
oil services stocks,
oil pipeline stocks,
gas pipeline stocks,
gas pipeline companies,
pipeline companies,
natural gas pipeline companies,
oil services companies,
oil field services,
oil service stocks,
natural gas pipelines,
oilfield service companies,
oil and gas pipeline companies,
oil gas pipeline,
oil exploration stocks,
oil exploration sector,
oil exploration companies,
oil drilling stocks,
oil drilling companies,
oil production companies,
china oil companies,
brazil oil companies,
china oil stocks,
brazil oil stocks,
oil companies,
oil stocks,
oil drilling,
oil exploration,
offshore oil drilling companies,
list of oil drilling companies,
oil and gas exploration,
oil and gas drilling,
oil and gas stocks,
oil and gas drilling companies,
oil refining companies,
oil marketing companies,
oil refining stocks,
oil refining sector,
oil refinery companies,
oil refinery stocks,
major oil companies,
oil sector,
oil refinery,
oil refinery company,
oil company,
oil marketing company,
oil refining company,
oil refining industry,
major oil companies list,
oil and gas companies,
crude oil stocks,
packaging companies,
container companies,
packaging stocks,
packaging sector,
container sector,
pulp stocks,
paper stocks,
timber stocks,
pulp companies,
paper companies,
timber companies,
timber trusts,
cardboard companies,
paper sector,
timber sector,
paper companies list,
silver mining companies,
gold mining companies,
gold mining sector,
precious metal stocks,
mining companies,
exploration sector,
mining sector,
exploration stocks,
mining stocks,
silver stocks,
gold stocks,
gold mining stocks,
silver mining stocks,
silver mining company,
canadian mining companies,
gold mining,
gold mining company,
mining company,
list of mining companies,
gold stocks list,
largest gold mining companies,
silver mining,
printing companies,
printing stocks,
printing sector,
newspaper stocks,
newspaper sector,
newspaper companies,
publishing stocks,
publishing sector,
publishing companies,
digital media companies,
digital media stocks,
digital media sector,
book publishing companies,
digital media company,
publishing company,
railroad stocks,
railroad sector,
railroad companies,
railroad company,
railroad investment,
major railroad companies,
real estate companies,
real estate stock,
real estate public companies,
real estate investing,
real estate investments,
real estate sector,
commercial real estate investing,
real estate investment firms,
real estate investing guide,
REITs,
real estate investment trust,
REIT sector,
REIT stocks,
REITs sector,
REITs stock,
public REITs,
real estate investment trusts,
real estate investment trust companies,
real estate investment trusts REITs,
real estate investment companies,
real estate investment company,
real estate investment trust REIT,
rubber stocks,
plastic stocks,
rubber companies,
plastic companies,
rubber sector,
plastic sector,
plastic manufacturing companies,
rubber company,
plastic company,
semiconductor stocks,
semiconductor investments,
semi stocks,
semiconductor companies,
semiconductor sector,
shipping stocks,
dry bulk stocks,
container stocks,
dry bulk shipping,
dry bulk shipping companies,
tanker stocks,
shipping companies,
shipping sector,
specialty retail,
retail stocks,
retail investing,
retail store stocks,
consumer stocks,
consumer investment,
retail companies,
retail sector,
sports stocks,
sports investing,
sporting goods stocks,
sports investments,
sporting goods companies,
sporting goods sector,
stock message boards,
television stocks,
television investment,
radio stocks,
radio invest,
media stocks,
media invest,
media investment,
media investing,
television companies,
television sector,
radio sector,
radio companies,
media companies,
media sector,
textile stocks,
apparel stocks,
textile investment,
textile companies,
textile sector,
apparel sector,
freight investment,
transportation investment,
truck investment ,
freight stocks,
transportation stocks,
trucking stocks,
trucking companies,
trucking sector,
waste management stocks,
waste stocks,
recycling stocks,
waste investment,
waste companies,
waste sector,
water stocks,
water utilities,
water investing,
water investment,
water companies,
water sector

Home Oil & Gas Electricity Metals Treasuries Stocks My Portfolios Forex
News - Full Story
 Related Quotes
 Standex International Corporation  79.48   1.09  1.39%
 Torotel Inc  7.58   UNCH  0.0%
 Enter Symbols: 
Standex International To Acquire Torotel, Inc.
EXPANDING HIGH RELIABILITY MAGNETICS CAPABILITIES- Acquiring Torotel, Inc., a Leader in Custom High Reliability Magnetics Assemblies- Enhances Standex's High Reliability Magnetics Scale and Customer Value Proposition- Expands Technical and Application Expertise in Attractive Aerospace and Defense End Markets

SALEM, N.H. and OLATHE, Kan., Dec. 2, 2019 /PRNewswire/ -- Standex International Corporation ("Standex") (NYSE: SXI) and Torotel, Inc. ("Torotel"), (OTC: TTLO), today announced that they have entered into a definitive agreement for Standex to acquire Torotel for approximately $48 million in cash, which includes the assumption of net debt of approximately $1.4 million. The transaction is expected to close in the first calendar quarter of 2020 and is subject to customary closing conditions and regulatory approvals, including the approval of Torotel shareholders. Standex expects the acquisition to be slightly accretive to its earnings in its first year of ownership excluding one-time purchase accounting and transaction costs.

"Torotel is a strong strategic fit with highly complementary capabilities to our existing high reliability magnetics portfolio, further adding significant technical and application expertise as well as strengthening our value proposition with industry leading customers," commented Standex President and Chief Executive Officer David Dunbar.

Torotel specializes in the custom design, manufacture and sale of a wide variety of precision magnetic components including electro-mechanical assemblies, high voltage transformers, dry-type transformers, toroidal coils, inductors, reactors and chokes for use in equipment such as aircraft navigational equipment, digital control devices, medical equipment, avionics equipment, down-hole drilling, conventional missile guidance systems, and other defense and commercial aerospace applications.

Commenting on the transaction, Herb Sizemore, Chairman, President and CEO of Torotel, stated, "We are excited to join a global leader like Standex with a similar culture and execution focus to our own. We see this as a great opportunity for our employees and customers. The acquisition will allow us to leverage our shared expertise, manufacturing know-how and solid customer relationships. As a result, we expect to be able to compete more effectively, particularly in the aerospace and defense sectors."

"Torotel's customized and highly-engineered solutions are very well-positioned in the aerospace and defense sectors, particularly for new platforms that are in the early stages of ramping. These end markets are characterized by large and growing addressable markets with long-term contracts based on strong engineer-to-engineer relationships and demanding technical standards, requiring close partnership with suppliers," continued Mr. Dunbar.

"Standex has a very focused and methodical approach to integrating acquisitions and realizing commercial opportunities that we have successfully demonstrated in prior transactions. As a result, we believe that we will create significant value from this acquisition for our customers and shareholders as we further transform Standex into a more focused industrial company with significant runway for higher growth and profitability. We look forward to welcoming the Torotel team and employees to our company," concluded Dunbar.

Founded in 1956, Torotel, Inc. is a leading designer and manufacturer of custom magnetics products primarily for the aerospace and defense industries. Torotel's trailing twelve-month revenues are approximately $24 million. Torotel, which has 174 employees, is headquartered in Olathe, Kansas and has operating facilities in Olathe and Hatfield, Pennsylvania.

Terms of Transaction and Financing

Standex's $48 million offer, which includes the assumption of net debt of approximately $1.4M, results in merger consideration of $7.77 per share in cash to Torotel shareholders. In addition to the purchase price, Standex will absorb approximately $8 million of transaction costs incurred by Torotel. To finance the transaction, Standex will be utilizing a portion of the $257 million available under its revolving credit facility at the end of its fiscal first quarter at September 30, 2019.

Consummation of the transaction is dependent upon approval of holders of two-thirds of Torotel's outstanding shares. In connection with Torotel's entry into the definitive agreement, certain significant shareholders and each director and executive officer holding shares, who collectively own approximately 62% of Torotel's outstanding shares, have signed voting agreements committing to vote their shares in favor of the transaction. Torotel will call a special meeting of its shareholders to approve the transaction and will file a Proxy Statement with the Securities and Exchange Commission in advance of the special meeting. It is anticipated that the special meeting of Torotel's shareholders to secure the necessary vote will be held during the first calendar quarter of 2020, with closing of the transaction occurring shortly thereafter.

Additional Information about the Proposed Transaction and Where You Can Find It

BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED TRANSACTION, TOROTEL SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

The proxy statement and other relevant materials, and any other documents filed by Torotel with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov. In addition, shareholders of Torotel may obtain free copies of the documents filed with the SEC by contacting Torotel's Chief Financial Officer at (913) 747-6111, or by writing to Chief Financial Officer, Torotel, Inc., 520 North Rogers Road, Olathe, Kansas 66062.

About Standex

Standex International Corporation is a multi-industry manufacturer in five broad business segments: Engraving, Electronics, Engineering Technologies, Hydraulics, and Food Service Equipment with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Brazil, Turkey, South Africa, India and China. For additional information, visit the Company's website at http://standex.com/.

About Torotel

For additional information, visit the Company's website at http://www.torotelproducts.com/.

Cision src=https://c212.net/c/img/favicon.png?sn=NY53939&sd=2019-12-02 View original content:http://www.prnewswire.com/news-releases/standex-international-to-acquire-torotel-inc-300967679.html

SOURCE Standex International Corporation

<  back


TickerTech.com Private-label branded pages powered by TickerTech.com. Copyright © 2019 Ticker Technologies, All Rights Reserved. Quote data is at least 20 minutes delayed. NYMEX/COMEX data is at least 30 minutes delayed. Please read other important disclaimer information.
"The most important thing in life is not simply to capitalize on your gains. Any fool can do that. The important thing is to profit from your loses. That requires intelligence, and makes the difference between a man of sense and a fool." - Dale Carnegie
Google
 

© Ticker Technologies, all rights reserved. Profitquotes.com is wholly owned by Ticker Technologies and serves to demonstrate the company's products to prospective clients. All quotes are in US Eastern Time (EST) and delayed at least 15 minutes. NYMEX/COMEX data delayed at least 30 minutes. Data is presented for informational purposes only and not intended for investment purposes. Nothing on this site should be considered advice, opinions, recommendations, or endorsements from ProfitQuotes.com or Ticker Technologies, Inc. Full Disclaimer.