Standex acquires magnetics leader Torotel
Move is strong strategic fit with firm’s complementary capabilities and existing high reliability magnetics portfolio
Standex Electronics, part of Standex International, has entered into a definitive agreement to acquire Torotel Inc., leaders in custom high reliability magnetics assemblies.
Torotel employs 174 people and is headquartered in Olathe, Kansas with operating facilities in Olathe as well as in Hatfield PA. 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.
Move boosts existing high reliability magnetics portfolio
The acquisition is viewed by Standex as a strong strategic fit with its highly complementary capabilities and existing high reliability magnetics portfolio. The firm also adds technical and application expertise and strengthens its value in the military and aerospace markets. Torotel’s senior leadership team brings a wealth of knowledge and experience in these segments as well.
Founded in 1956, 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 aircraft equipment, digital control devices, medical equipment, avionics equipment, down-hole drilling, conventional missile guidance systems and other defense and commercial aerospace applications.