Bunting Magnetics to Acquire UK-Based Master Magnets
Bunting Magnetics Co., Newton, KS, designer, manufacturer and distributor of magnets and magnetic equipment, signed an agreement to acquire Master Magnets Ltd, a UK-based manufacturer of magnetic separation equipment. Based in Redditch, United Kingdom, Master Magnets provides a complete line of magnetic separation, recycling and metal-detection equipment to several industries through a worldwide distribution network.
The acquisition is expected to 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, according to company officials.
“Master Magnets Ltd. perfectly complements Bunting Magnetics in terms of innovation, quality, products, and providing magnetic solutions through individual components and complete systems,” says Bob Bunting, president and CEO of Bunting Magnetics.
Simon Ayling, managing director of Bunting Magnetics Europe, will assume operations-management responsibility of this new division.
See also: Bunting Magnetics Co.
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