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Standex Broadens Engraving Capabilities with Acquisition of GS Engineering

Leading Provider of Cutting-Edge Technology for Soft Surface Tooling
Opportunity
to Leverage Capabilities Across Standex’s Global Engraving Footprint

SALEM, N.H.–(BUSINESS WIRE)–Standex
International Corporation
(NYSE:SXI) today announced that it
has acquired privately-held Genius Solutions Engineering Company (d/b/a
GS Engineering) and affiliated GS Innovation, Inc. (together, “GS”). GS
is a market leader in the manufacture of highly specialized “soft
surface” skin texturized tooling, primarily serving the automotive end
market. The acquisition is expected to be immediately accretive to
earnings. The current GS management team will continue with the Standex
Engraving business unit post-closing. GS is based in Maumee, Ohio and
has approximately 40 employees. The company was incorporated in 2004.

GS brings Standex Engraving critical proprietary technologies that offer
significant advantages in creating tools for “soft surface” components,
which are used increasingly in vehicle interiors. The Company
specializes in creating IMG (“In-Mold Graining”) molds and tools that
are significantly faster to design and produce than those offered by its
competitors. The tooling for “soft surface” products offered by GS is
highly complementary to Standex Engravings’ current industry-leading
capabilities in texturing molds and tools used to create “hard surface”
components. Standex Engraving intends to immediately introduce the GS
technology across its global production footprint, which will enable
customers worldwide to benefit from a combined offering for harmonized
designs across a variety of surfaces and materials. Both Standex and GS
are united in their plan to achieve this global roll-out plan, and
Standex has put in place a five-year, contingent earnout that aligns
with these goals to enable the GS management team to participate in the
benefits of successful execution.

“This acquisition is a great strategic fit with our existing engraving
capabilities and brings innovative, cutting-edge technology to Standex.
The GS offering is the best in the market for creating ‘soft surfaces’,
one of the faster-growing and higher-margin portions of the global
automotive interior market,” said Standex Chief Executive Officer David
Dunbar. “We enthusiastically welcome Matt, Grigoriy, and their employees
to the Standex family. They will be vital to our ‘soft surface’ roadmap
and together we will bring ‘soft surface’ technology to more customers
globally.”

“Joining a world-class leader like Standex instantly gives us a global
presence, complementary offerings, and broader talent resources to
better serve customers,” said the GS founders, Grigoriy Grinberg and
Matthew Shade. “We are confident in the combined strategy and believe
that Standex provides the right foundation for continued growth.”

About GS Engineering

GS Engineering was founded in 2004 by Grigoriy Grinberg and Matthew
Shade. They specialize in the manufacture of rapid texturized tooling
(IMG, Spray PU, Powder Slush) for domestic and international automotive
OEMs. For additional information, visit the company’s website at www.gsengineering.net
.

About Standex

Standex International Corporation is a global, multi-industry
manufacturer in five broad business segments: Food Service Equipment,
Engineering Technologies, Engraving, Electronics, and Hydraulics. For
additional information, visit the Company's website at http://standex.com/.

Safe Harbor Language

Statements in this news release include, or may be based upon,
management's current expectations, estimates and/or projections about
Standex's markets and industries. These statements are forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Actual results may materially differ from those
indicated by such forward-looking statements as a result of certain
risks, uncertainties and assumptions that are difficult to predict.
Among the factors that could cause actual results to differ are the
impact of implementation of government regulations and programs
affecting our businesses, unforeseen legal judgments, fines or
settlements, uncertainty in conditions in the financial and banking
markets, general domestic and international economy including more
specifically economic conditions in the oil and gas market, the impact
of foreign exchange, increases in raw material costs, the ability to
substitute less expensive alternative raw materials, the heavy
construction vehicle market, the ability to continue to successfully
implement productivity improvements, increase market share, access new
markets, introduce new products, enhance our presence in strategic
channels, the successful expansion and automation of manufacturing
capabilities and diversification efforts in emerging markets, the
ability to continue to achieve cost savings through lean manufacturing,
cost reduction activities, and low cost sourcing, effective completion
of plant consolidations, successful completion and integration of
acquisitions and the other factors discussed in the Annual Report of
Standex on Form 10-K for the fiscal year ending June 30, 2018, which is
on file with the Securities and Exchange Commission, and any subsequent
periodic reports filed by the Company with the Securities and Exchange
Commission. In addition, any forward-looking statements represent
management's estimates only as of the day made and should not be relied
upon as representing management's estimates as of any subsequent date.
While the Company may elect to update forward-looking statements at some
point in the future, the Company and management specifically disclaim
any obligation to do so, even if management's estimates change.

Contacts

Thomas DeByle, CFO
(603) 893-9701
e-mail: [email protected]