Magnetic equipment business Bunting Magnetics has acquired Master Magnets Ltd, a UK-based manufacturer of magnetic separation equipment.
(l-r): Adrian Coleman, general manager of Master Magnets and Simon Ayling, managing director of Bunting Magnetics Europe
According to Bunting Magnetics, the acquisition will benefit the company through broadened customer reach, new manufacturing capabilities and the opportunity to sell into new markets.
Redditch-based Master Magnets provides magnetic separation, recycling and metal detection equipment to several industries through a worldwide network of distributors.
Bob Bunting, president at Bunting Magnetics, said: “We’re thrilled to add Master Magnets Ltd to our family of companies. 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.”
Mr Bunting added: “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.”
New markets
Managing director of Bunting Magnetics Europe Simon Ayling will assume operations management responsibility of this new division.
Mr Ayling said: “Master Magnets Ltd has deep customer relationships in new markets for us such as mining, quarrying and aggregate.”
He added: “It’s exciting to combine our strengths and expertise. Together, we have nearly 100 years of experience in magnetic separation.”
Adrian Coleman, general manager at Master Magnets, commented: “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.”
The terms of the deal were not disclosed.
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Source: letsrecycle.com Metal
