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.”