Sign up for the Powder & Bulk Solids Weekly newsletter.
January 5, 2017
2 Min Read
Bunting Magnetics Co. has signed an agreement to acquire Master Magnets Ltd.
Bunting Magnetics Co., a leader in magnet and magnetic equipment design, manufacturing, and distribution, announces that it has signed an agreement to acquire Master Magnets Ltd, a UK-based manufacturer of magnetic separation equipment.
Based in Redditch, UK, Master Magnets Ltd provides a complete line of magnetic separation, recycling, and metal detection equipment to several industries through a worldwide network of distributors. The acquisition will build on and complement Bunting Magnetics Co.’s global foundation already in place through broadened customer reach, new manufacturing capabilities, and the opportunity to sell into new markets.
“We’re thrilled to add Master Magnets Ltd to our family of companies,” said Bob Bunting, president & CEO, Bunting Magnetics Co. “We value the longstanding success of Master Magnets Ltd and are committed to sharing engineering and manufacturing strengths while providing their employees the resources they need to build on this success.
“Plus, Master Magnets Ltd perfectly complements 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,” he added.
Simon Ayling, managing director of Bunting Magnetics Europe, who will assume operations management responsibility of this new division, said, “Master Magnets Ltd has deep customer relationships in new markets for us such as mining, quarrying, and aggregate. We are especially excited to now be able offer a large line of ATEX-approved electromagnets and mineral separation equipment, as well as the company being a recognized, trusted brand in magnetic separation, which 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 was founded in 1978 and currently has 26 employees. The company designs, manufacturers, and services a complete line of industrial magnetic separation equipment including eddy current separators, permanent and electro magnets, including overband magnets, drum magnets and suspension magnets. The company also supplies a full range of mineral separation equipment for customers all around the world. The company will continue to operate out of its Redditch, UK headquarters.
“This acquisition is excellent news for the Master Magnets team, who are joining a company with international standing and a shared vision for growth,” said Adrian Coleman, general manager, Master Magnets Ltd. “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.”
Terms of the deal are not disclosed.
For related articles, news, and equipment reviews, visit our Screening & Separation Equipment Zone
Click here for a List of Screening & Separation Equipment
You May Also Like
Beumer Group Grows Presence in CanadaFeb 21, 2024|1 Min Read
Illinois Blower Rebrands and Merges SubsidiariesFeb 21, 2024|1 Min Read
Innovative Waste Processing with Integrated Air Filtration SystemFeb 21, 2024|3 Min Read
GEA Investing $20M in Alt Protein Tech CenterFeb 21, 2024|2 Min Read