Boyne City, Michigan-based Industrial Magnetics Inc. has acquired substantially all of the assets of Walker Magnetics Group Inc., which was founded in 1896 in Worcester, Massachusetts.
According to a news release from Industrial Magnetics, Walker Magnetics is North America’s “oldest industrial magnet manufacturer.” The company was founded upon the invention of the electromagnetic chuck by Oakley S. Walker and has since grown into a provider of custom and standard magnetic products for work-holding, lifting, material handling, scrap magnets and separation applications. Over its 125-year history, Industrial Magnetics reports that a diverse range of industries have come to recognize Walker Magnetics products’ reliability across a broad spectrum of unique and general manufacturing applications.
“The acquisition of Walker Magnetics marks Industrial Magnetics’ next step in expanding our permanent, electromagnetic and electro-permanent magnetic technology and systems for industrial applications,” says Dennis O’Leary, Industrial Magnetics’ chief business development officer. “It also broadens our industry-best roster of lift magnets and establishes Industrial Magnetics as a leader in the work-holding segment with a complete lineup of permanent, electromagnetic and electro-permanent magnetic chucks.
He continues, “With strong brand recognition and highly complementary products, we are excited about the opportunities to grow both businesses while maintaining our industry-best lead time, reliability and quality. Industrial Magnetics intends to be a thoughtful steward to the Walker Magnetics legacy, history and brand with continued investment in its long-term growth.”
Industrial Magnetics was founded in 1961 and provides permanent and electromagnetic solutions.