Matrix Capital Markets Group, Inc., an independent investment bank, announced the sale of Walker Magnetics Group, Inc. to Industrial Magnetics, Inc. (IMI), a portfolio company of DNS Capital, LLC. Prior to the sale, Walker Magnetics was owned by Alliance Holdings, Inc., a private investment firm based in Horsham, Pennsylvania.
Walker Magnetics, founded in 1896, is a globally recognized manufacturer of highly engineered industrial magnetic products. Established in Worcester, Massachusetts by Oakley S. Walker, the company has grown over the past century through a mix of acquisitions, product innovation, and share gains with its loyal customer base. Throughout its history, the business has served thousands of customers in 190 countries worldwide, including steel mills, the rail industry, scrap processors, recycling centers, foundries, mining companies, machine shops, fabrication plants, casting plants, machine tool distributors, automotive suppliers and steel services centers. In 2011, the company partnered with Alliance Holdings as the family ownership group exited the business. Today, Walker Magnetics operates out of two locations in Columbus, Ohio and Windsor, Connecticut and has expanded its reach globally to service its customers across the heavy lift, workholding, separation, scrap, standard lift and repair markets.
Terms of the transaction were not disclosed.
Published in the April 2021 Edition