Standex is a diversified industrial manufacturer that designs and makes highly engineered, custom components and assemblies for OEM customers across industrial and commercial markets. Rather than selling standard catalog products, Standex embeds its engineering teams with customers to develop bespoke solutions, creating meaningful switching costs once products are designed into a customer's platform. Electronics is the largest segment, now representing over 50% of total revenue, and makes sensing and switching components, magnetic power conversion components, and instrument transformers for the electrical grid. Customers use these products in switchgear, EV powertrains, medical devices, aerospace systems, and data center infrastructure. The October 2024 acquisition of Amran/Narayan — the largest in Standex's history at $462M — added low- and medium-voltage instrument transformers sold to large electrical OEMs like Eaton, GE, and Schneider. Beyond Electronics, Engineering Technologies makes precision metal-formed components — rocket fuel tanks, missile nose cones, aircraft nacelle lipskins — for space, defense, and aviation customers under the Spincraft and McStarlite brands. Standex's three smaller segments are Engraving (surface texture engraving for automotive tooling), Scientific (specialty temperature-controlled storage for healthcare and research), and Specialty Solutions (food display cases and hydraulic cylinders for niche markets). Standex sells almost entirely through a direct sales force and field application engineers, and targets secular growth markets including grid modernization, data centers, EVs, defense, and commercial space.