Master Magnets acquired by Bunting Magnetics Co.
US-based magnetic equipment specialist expands global operations with acquisition of UK-based business
KANSAS-based Bunting Magnetics Co., specialists in magnet and magnetic equipment design, manufacturing and distribution, have signed an agreement to acquire Master Magnets Ltd, the UK-based manufacturers of magnetic separation equipment, for an undisclosed sum.
Based in Redditch, Master Magnets provide a complete line of magnetic separation, recycling and metal-detection equipment to several industries worldwide through a global network of distributors.
The acquisition will build on and complement Bunting Magnetics’ existing global foundation through broadened customer reach, new manufacturing capabilities and the opportunity to sell into new markets.
‘We’re thrilled to add Master Magnets to our family of companies,’ commented Bob Bunting, president and chief executive officer of Bunting Magnetics Co. ‘We value the long-standing success of Master Magnets and are committed to sharing engineering and manufacturing strengths while providing their employees with the resources they need to build on this success.’
‘Moreover, Master Magnets perfectly complement Bunting Magnetics in terms of innovation, quality, products and providing magnetic solutions through individual components and complete systems. Joining forces decisively extends Bunting’s status as a leading global supplier of magnetic equipment and is a significant milestone in the company’s history.’
Simon Ayling (right of photo), managing director of Bunting Magnetics Europe, who will assume operations management responsibility for this new division, said: ‘Master Magnets have deep customer relationships in new markets for us, such as mining, quarrying and aggregates.
‘We are especially excited to now be able offer a large range of ATEX-approved electromagnets and mineral separation equipment, as well as at the company being a recognized, trusted brand in magnetic separation that has remarkable products created by remarkable people.
‘It’s exciting to combine our strengths and expertise. Together, we have nearly 100 years of experience in magnetic separation.’
Master Magnets Ltd, who were founded in 1978 and currently have 26 employees, design, manufacture and service a complete line of industrial magnetic separation equipment and also supply a full range of mineral separation equipment for customers all around the world. The company will continue to operate out of its UK headquarters in Redditch.
Adrian Coleman (left of photo), general manager at Master Magnets, said: ‘This acquisition is excellent news for the Master Magnets team, who are joining a company with international standing and a shared vision for growth.
‘We will continue to focus on ensuring our UK operations perform seamlessly for our customers who will also benefit from this new partnership. We’re excited for this new future that awaits Master Magnets as part of the Bunting family.’