Foley Hoag advised Standex International Corporation (NYSE: SXI) in its divestiture of Federal Industries, its display merchandising business, to AeriTek Global Holdings LLC (AeriTek), a portfolio company of Mill Point Capital, at an enterprise value of approximately $70 million.
Federal Industries had been part of Standex's Specialty Solutions segment and generated approximately $35.7 million in net revenues in fiscal year 2025. Standex intends to use the proceeds from the sale in accordance with its current capital allocation framework, comprised of organic growth opportunities, inorganic initiatives, and debt repayment.
The Foley Hoag team included Nitzan Fisher Conforti, Sarah Nyaeme, Matt Donovan and Peter Rosenblum.