Bunting Acquires Master Magnets January 09, 2017
Bunting Magnetics announces 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' 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 range of ATEX approved electromagnets and mineral separation equipment, as well as the company being a recognised, 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.
Adrian Coleman, General Manager, Master Magnets Ltd, 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.”
Terms of the deal are not disclosed.
For further information on the acquisition, please contact Press Officer, Paul Fears on: