STANDEX ACQUIRES MCSTARLITE
Standex International (NYSE:SXI) has acquired California-based McStarlite Co. for $56.5 million in cash, funded through Standex's existing revolver. McStarlite, a leading provider of complex sheet metal aerospace components, generated approximately $33 million in revenue in 2024 with an adjusted EBITDA margin above 20%.
McStarlite operates four facilities in Harbor City, CA, specializing in forming large, complex sheet metal components for aviation, including lipskins, nozzles, and complex assemblies. The acquisition will be integrated into Standex's Engineering Technologies Group segment and is expected to be earnings accretive in the first year.
The strategic acquisition expands Standex's product breadth and forming capabilities in commercial aviation, space, and defense applications, complementing their existing Spincraft business through technical exchanges and cross-selling opportunities.
Standex International (NYSE:SXI) ha acquisito la californiana McStarlite Co. per 56,5 milioni di dollari in contante, finanziati tramite la linea di credito esistente di Standex. McStarlite, un fornitore leader di componenti aerospaziali in lamiera complessa, ha generato circa 33 milioni di dollari di ricavi nel 2024 con un margine EBITDA rettificato superiore al 20%.
McStarlite opera in quattro stabilimenti a Harbor City, CA, specializzandosi nella formazione di grandi e complessi componenti in lamiera per l'aviazione, inclusi lipskins, ugelli e assemblaggi complessi. L'acquisizione sarà integrata nel segmento Engineering Technologies Group di Standex e si prevede che contribuisca agli utili nel primo anno.
L'acquisizione strategica espande la gamma di prodotti e le capacità di formatura di Standex nelle applicazioni per aviazione commerciale, spazio e difesa, complementando il loro business esistente Spincraft tramite scambi tecnici e opportunità di cross-selling.
Standex International (NYSE:SXI) ha adquirido la empresa californiana McStarlite Co. por 56,5 millones de dólares en efectivo, financiados a través de la línea de crédito existente de Standex. McStarlite, un proveedor líder de componentes complejos de chapa metálica para la industria aeroespacial, generó aproximadamente 33 millones de dólares en ingresos en 2024 con un margen de EBITDA ajustado superior al 20%.
McStarlite opera cuatro instalaciones en Harbor City, CA, especializándose en la formación de componentes de chapa metálica grandes y complejos para la aviación, incluidos lipskins, boquillas y ensamblajes complejos. La adquisición se integrará en el segmento de Engineering Technologies Group de Standex y se espera que contribuya a las ganancias en el primer año.
La adquisición estratégica amplía la gama de productos y las capacidades de formación de Standex en aplicaciones de aviación comercial, espacio y defensa, complementando su negocio existente de Spincraft a través de intercambios técnicos y oportunidades de venta cruzada.
스탠덱스 인터내셔널 (NYSE:SXI)가 캘리포니아 기반의 맥스타라이트 코.를 5,650만 달러에 현금으로 인수했습니다. 이는 스탠덱스의 기존 신용 한도를 통해 자금을 조달하였습니다. 맥스타라이트는 복잡한 금속 시트 항공우주 부품을 제공하는 주요 공급업체로서, 2024년에 약 3,300만 달러의 수익을 창출하며 조정된 EBITDA 마진이 20%를 초과했습니다.
맥스타라이트는 캘리포니아 하버 시티에 있는 네 개의 시설을 운영하며, 리프스킨, 노즐 및 복잡한 조립품을 포함하여 항공기를 위한 대형 복합 금속 시트 부품의 성형을 전문으로 하고 있습니다. 이번 인수는 스탠덱스의 엔지니어링 기술 그룹 부문에 통합될 예정이며, 첫 해에 수익 증가에 기여할 것으로 예상됩니다.
이번 전략적 인수는 상업 항공, 우주 및 방산 분야에서 스탠덱스의 제품 폭과 성형 능력을 확대하여, 기존의 스핀크래프트 비즈니스를 기술 교환 및 교차 판매 기회를 통해 보완할 것입니다.
Standex International (NYSE:SXI) a acquis la société californienne McStarlite Co. pour 56,5 millions de dollars en espèces, financés par la ligne de crédit existante de Standex. McStarlite, un fournisseur de premier plan de composants en tôle métallique complexe pour l'aérospatiale, a généré environ 33 millions de dollars de revenus en 2024 avec une marge EBITDA ajustée supérieure à 20 %.
McStarlite exploite quatre installations à Harbor City, CA, se spécialisant dans la formation de grands composants en tôle métallique complexes pour l'aviation, y compris des lipskins, des buses et des assemblages complexes. L'acquisition sera intégrée au segment des technologies d'ingénierie de Standex et devrait contribuer aux bénéfices dès la première année.
Cette acquisition stratégique élargit la gamme de produits et les capacités de formation de Standex dans les applications d'aviation commerciale, spatiale et de défense, complétant leur activité existante de Spincraft grâce à des échanges techniques et des opportunités de vente croisée.
Standex International (NYSE:SXI) hat das kalifornische Unternehmen McStarlite Co. für 56,5 Millionen Dollar in bar übernommen, finanziert durch die bestehende Kreditlinie von Standex. McStarlite, ein führender Anbieter von komplexen Blechbearbeitungsteilen für die Luft- und Raumfahrt, erzielte im Jahr 2024 etwa 33 Millionen Dollar Umsatz mit einer bereinigten EBITDA-Marge von über 20 %.
McStarlite betreibt vier Anlagen in Harbor City, CA, die auf die Formung großer, komplexer Blechkomponenten für die Luftfahrt spezialisiert sind, einschließlich Lipskins, Düsen und komplexen Baugruppen. Die Übernahme wird in die Engineering Technologies Group von Standex integriert und wird im ersten Jahr voraussichtlich die Erträge steigern.
Die strategische Übernahme erweitert das Produktportfolio und die Formungskapazitäten von Standex in den Bereichen der kommerziellen Luftfahrt, Raumfahrt und Verteidigung und ergänzt das bestehende Spincraft-Geschäft durch technische Austauschmöglichkeiten und Cross-Selling-Potenziale.
- Acquisition expected to be earnings accretive in first year
- McStarlite's strong 20%+ EBITDA margin on $33M revenue
- Strategic expansion into aerospace components market
- Complementary product line enabling cross-selling opportunities
- Fully funded through existing credit facility (no dilution)
- Significant cash outlay of $56.5M impacting balance sheet
- Purchase price represents ~1.7x revenue multiple
Insights
The
The transaction structure is particularly noteworthy: financing through the existing revolver maintains financial flexibility while the immediate earnings accretion suggests strong cash flow generation potential. With McStarlite's
Key synergy opportunities include:
- Cross-selling to complementary customer bases in commercial aviation, space and defense sectors
- Technical knowledge transfer between McStarlite and Spincraft operations
- Operational efficiency improvements through scale and best practice sharing
- Geographic expansion potential leveraging Standex's global presence
The timing is particularly strategic given the commercial aviation sector's recovery and increasing defense spending. McStarlite's specialized capabilities in complex sheet metal components, particularly in lipskins and nozzles, positions Standex to capture growing demand in next-generation aircraft programs and space applications.
McStarlite's acquisition significantly enhances Standex's competitive position in high-value aerospace components. Their specialized expertise in forming large, complex sheet metal components, particularly aircraft lipskins and nozzles, addresses a critical and technically challenging segment of the aerospace supply chain. These components are essential for aircraft performance and fuel efficiency, with stringent quality and precision requirements.
The technical synergies with Standex's Spincraft business are particularly valuable. McStarlite's cold deep draw and bulge-forming capabilities complement Spincraft's existing technologies, creating a more comprehensive offering for aerospace OEMs. This expanded capability set positions Standex to capture larger work packages on both commercial and defense programs.
The strategic timing aligns with several industry trends:
- Increasing demand for fuel-efficient aircraft requiring advanced aerodynamic components
- Growing space sector needs for complex metal forming capabilities
- Defense modernization programs requiring sophisticated manufacturing processes
- Industry consolidation favoring suppliers with broader capabilities
The Harbor City facilities provide strategic access to major West Coast aerospace clusters and key customers, complementing Standex's existing geographic footprint and creating a stronger national presence in aerospace manufacturing.
"We are very pleased to have acquired McStarlite, a great strategic fit, expanding our product breadth and forming capabilities in commercial aviation, space and defense applications. Its customer base, product line and technologies are highly complementary to our existing Spincraft business with the potential to capitalize on technical exchanges and cross selling opportunities. McStarlite also brings a strong engineering and customer-focused team that aligns with Standex's commitment to customer intimacy," commented President and Chief Executive Officer David Dunbar.
With four facilities in
Commenting on the transaction, John Basso, President, Chairman and CEO of McStarlite Co., stated "We are excited to join a global leader that provides a strong foundation for our continued growth. Standex's ownership offers us the opportunity to leverage a much broader geographical and industry presence, additional engineering expertise, complementary product offerings, and enhanced customer relationships."
"With today's announcement, we have strengthened our competitive advantage by adding both scale and additional capabilities to our Engineering Technologies platform. The addition of McStarlite furthers our portfolio strategy of building our growth business segments into more significant platforms. We look forward to welcoming the entire McStarlite team to our company," concluded Dunbar.
McStarlite was advised by investment banking firm Janes Capital Partners and Procopio, Cory, Hargreaves & Savitch LLP as legal counsel.
About Standex
Standex International Corporation is a global multi-industry manufacturer in five broad business segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions with operations in
About McStarlite
Basmat, Inc. d/b/a McStarlite Co. ("McStarlite Co."), founded in 1955, designs and manufactures segmented and single piece lipskins, nozzles, complex sheet metal assemblies, and tooling to support production hardware for products focused on commercial aviation and military end markets. For additional information, visit the Company's website at http://www.mcstarlite.com.
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SOURCE Standex International Corporation
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