Bunting Magnetics Co. announced that it has signed an agreement to acquire Master Magnets Ltd, a UK-based manufacturer of magnetic separation equipment. Based in Redditch, United Kingdom, Master Magnets Ltd provides a complete line of magnetic separation, recycling and metal detection equipment to several industries worldwide 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,” commented 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.”