Standex International of Salem, New Hampshire has acquired privately-held, Colorado-based Sensor Solutions for approximately $9.7 million in cash. Announced on March 1, the move comes less than a year after its Standex Electronics business unit acquired reed switch manufacturer American Relays. Both deals bring new magnetic products and capabilities into the company’s portfolio of electronic components.
“We are very pleased to have acquired Sensor Solutions, a great strategic fit which further expands our technical and applications expertise and range of customer solutions in high value, growing sectors such as electric vehicles, industrial automation and medical end markets,” said David Dunbar, president and CEO of Standex International. “Sensor Solutions programmable magnetic Hall and specialty sensors include customized, flexible sensor design solutions that meet the growing market demand for the manufacture of smart technologies.”
Sensor Solutions designs and manufactures customized as well as standard Hall effect and magnetic sensor products including Hall switch and latching sensors, linear and rotary sensors and specialty sensors. The products serve automotive, industrial, medical, aerospace, military and consumer electronics end markets. Trailing twelve-month revenues for the company were approximately $4.3 million.
“We are excited to join a global leader that provides a very strong foundation for our continued growth. Standex’s ownership offers us the opportunity to leverage a much larger geographical presence, substantial engineering capabilities and complementary product offerings,” commented Dave Lorenzen, president of Sensor Solutions.
Founded in 1993, Sensor Solutions, Inc. designs and manufactures magnetic sensing products with a catalog offering more than 6,000 unique magnetic sensors and accessories. The company has approximately 15 employees with its headquarters and manufacturing facility in Steamboat Springs, Colorado.
The American Relays deal came in May 2021 when Standex Electronics acquired the reed switch manufacturer.
“Standex Electronics is proud to add the American Relays brand to its portfolio of reed relays as it further strengthens its position in the test and measurement market. This acquisition will allow Standex to provide more products and options to customers of both companies,” said John Meeks, president of Standex Electronics which is based in Cincinnati, Ohio.
“This acquisition will also help us in strengthening our position in the North American relay market as we will now be able to provide American Relay customers with a wider array of relay products and deeper application knowledge,” said Ralf Maier, vice president and general manager of the sensor and relay product lines for Standex.
Using simple magnet interaction to open and close their contacts, reed switches reliably switch billions of operations. They do not consume power in their open state and, hermetically sealed, they can be used in almost any environment, unlike many situations for electromechanical and semiconductor switches. Standex produces an extensive line of reed switches, having acquired Japanese reed switch manufacturer OKI Electric five years ago. For more info, see www.standex.com and www.standexelectronics.com.