Bunting Magnetics has flexed its muscles as a leader in magnetic equipment by announcing its acquisition of Master Magnets, a UK-based manufacturer of magnetic separation equipment.
Master Magnets was founded in 1978 and has 26 employees. The company provides a complete line of magnetic separation, recycling and metal detection equipment through a worldwide network of distributors and will continue to operate out of its Redditch headquarters.
Bunting Magnetics will further expand its customer reach with the buyout, while gaining new manufacturing capabilities and accessing new markets such as mining, quarrying and aggregate.
"We’re thrilled to add Master Magnets Ltd to our family of companies," said Bob Bunting, Bunting Magnetics President & CEO. "We value the longstanding success of Master Magnets and are committed to sharing engineering and manufacturing strengths while providing their employees the resources they need to build on this success."
He continued: "Master Magnets 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."
Simon Ayling, Managing Director of Bunting Magnetics Europe, will assume operations management responsibility of this new division when the acquisition is complete.
“Master Magnets has deep customer relationships in new markets for us. 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," Ayling stated. "It’s exciting to combine our strengths and expertise. Together, we have nearly 100 years of experience in magnetic separation."
Adrian Coleman, General Manager, Master Magnets Ltd, added: "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."