Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 222

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 1C
Chunk 222
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   Identifiable intangible assets of $10.7 million consist primarily of $3.2 million for indefinite lived tradenames and $7.5 million of customer relationships to be amortized over 15 years. The goodwill of $13.9 million created by the transaction is not deductible for income tax purposes. The accounting for business combinations requires estimates and judgments regarding expectations for future cash flows of the acquired business, and the allocations of those cash flows to identifiable tangible and intangible assets, in determining the assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are based on management's best estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. 

       40

   The components of the fair value of the Minntronix acquisition, including the final allocation of the purchase price are as follows (in thousands): 

       Final Allocation as of September 30, 2024 
 Fair value of business combination:    
 Cash payments   33,890
 Less, cash acquired   (4,661)
 Total  $29,229

 Identifiable assets acquired and liabilities assumed:    
 Other acquired assets  $8,282
 Customer backlog   1,120
 Inventories   1,780
 Property, plant, & equipment   1,039
 Identifiable intangible assets   10,700
 Goodwill   13,889
 Liabilities assumed   (7,581)
 Total  $29,229

   Sanyu
    
   On  February 19, 2024, the Company completed the purchase of all the issued and outstanding equity interests of Sanyu Switch Co., Ltd (Sanyu), a privately held company for $20.9 million, net of cash acquired. Sanyu designs and manufactures reed relays for test and measurement and other switching applications.  Products include surface mount relays, high current relays, high insulation relays, high density relays for test boards, and RF relays which are used in semi-conductors, other electronics manufacturing and other switching applications. Sanyu's results are reported within the Company's Electronics segment. The Company paid $22.2 million in cash in the third quarter of fiscal year 2024 and recorded