| Standex International | |
| Type: | Public |
| Traded As: | S&P 600 component |
| Founder: | John Bolten, Sr |
| Location: | 11 Keewaydin Drive |
| Location City: | Salem, New Hampshire |
| Location Country: | United States |
| Key People: | David Dunbar (CEO) Alan Glass (Vice President) Sean Valashinas (Chief Accounting Officer) |
| Area Served: | Worldwide |
| Industry: | Food service equipment, electronics and hydraulics |
| Products: | Food service equipment Engravings Hydraulics |
| Num Employees: | 5,400 (2017) |
Standex International Corporation is an American multinational manufacturer of food service equipment, engravings, engineering technologies, electronics and hydraulics, headquartered in Salem, New Hampshire. Standex is divided into 12 units and 5 reporting segments. The company was incorporated in 1955 and contains multiple subsidiaries including Bakers Pride and Standex Electronics.[1] [2]
After World War II John Bolten, Sr. and his sons founded a vinyl sheeting company under the name, Bolta Plastics. In 1954, General Tire and Rubber bought the company for $4 million. Bolten reinvested the funds into Standard Publishing, a religious publishing company founded in 1866, and Roehlen Engraving, a steel engraving company. In 1955, Bolten incorporated his company.[2] Standard Publishing was acquired by the Wicks Group in 2006.
During the corporation's early years multiple acquisitions were made including a Coca-Cola bottling company in South America and cleansing product manufacturers consisting of Everedy cookware, Lestoil, and Bon Am. Daniel Hogan, Bolten Sr's son-in-law, succeeded Bolten as company president. Under his management the corporation experienced massive expansion.[2]
Hogan took the company public in 1964 and renamed the corporation in 1973 to Standex. Between 1971 and 1975, Standex's net sales increased by 48%, growing from $119 million to $176 million. By 1984 the company's expansion was halted after a series of rash mergers and acquisitions. In 1985 the company debt-to-capital ratio fell to 20%. Hogan, after 37 years with Standex, stepped down as president passing the position to Thomas L. King.
In 1994, Standex purchased Toastswell, a company founded in the late 1920s from the Pavelka family. Toastswell assets were later purchased from Standex in 1997 by Star Manufacturing International.[3]
In July 2020, Standex acquired Renco Electronics for $28 million.[4]
In November 2017, Standex began trading ex-dividends at $0.18 per share. This represented a 12.5% increase over the prior dividend payment. SXI's earnings per share was measured at $3.61.[5] In January 2018, the stock price had fallen below $100 per share with investors looking at the stock's potential upside.[6]