Standex began implementing its “Focused Diversity” growth strategy in 2001.  The goal: to enable the Company to focus its resources on those businesses with the greatest potential for profitable growth and where synergies can be leveraged across the portfolio of businesses. 

Since initiating its Focused Diversity strategy, Standex has divested approximately $200 million of revenue, and replaced this with about $100 million of organic growth and another $100 million of growth from acquisitions.  In 2006, Standex divested its three Consumer Products Group businesses because they did not offer significant operational synergies across the Company’s other businesses. 

In the past few years, Standex has acquired several businesses that resulted in larger, more profitable operating groups.  In 2005, Standex completed the acquisitions of Kool Star, a manufacturer of walk-in refrigeration units located in California, and Innovent Specialty Products, a manufacturer of processing tooling.  In 2007, the Company acquired American Foodservice and APW Wyott, market leaders in the food service equipment market.  In line with the Company’s strategy, these acquisitions strengthened Standex’s market leadership, enabled the Company to pursue new growth opportunities, and provided significant operational synergies.

Standex now has the right composition of businesses to execute on the next step in its Focused Diversity strategy.  First, through the divestiture of its non-strategic businesses, the Company is now much better positioned to grow organically by capitalizing on the synergies between its operating groups.  Standex plans to leverage the combined strengths of these businesses to further penetrate current markets and to enter new geographic and vertical markets.  Standex will continue to make acquisitions that are synergistic with its current operating groups, and that can quickly contribute to profitability.