Metal fabricator Standex (Salem, NH) has acquired laser engraving services provider Tenibac-Graphion (Clinton Township, MI). Privately held Tenibac-Graphion reported revenues of $25 million for the year ended December 31, 2017 and estimated revenues of $13 million for the six-month period ending June 30, 2018. The acquisition is expected to be accretive to earnings per share by $0.16 to $0.20 in fiscal year 2019 and $0.26 to $0.30 in fiscal year 2020, excluding purchase accounting and acquisition costs.
Tenibac-Graphion's expertise in mold and tool texturizing complements Standex's portfolio and allows the company to deliver a broader set of design services, mold texturizing, tool finishing, tool enhancement, and prototyping services, says Standex CEO David Dunbar.
The combined customer base of the two companies will have access to the full line of mold and tool services, such as the Architexture design consultancy, Vycon part wrapping, chemical and laser engraving, tool finishing, and tool enhancements, says Standex Engraving president Flavio Maschera.
Tenibac-Graphion, which employs around 160 people, serves automotive, packaging, medical, and consumer products customers, and operates three facilities, including two in Michigan and one in China.
Tenibac-Graphion's management team will be continuing with the company. Terms of the transaction were not disclosed.