Industrial Magnetics Inc. Acquires Walker Magnetics

Industrial Magnetics Inc. (Boyne City, MI) has acquired substantially all of the assets of Walker Magnetics Group Inc., North America’s oldest industrial magnet manufacturer.

Founded in 1896 in Worcester, Massachusetts, upon the invention of the electromagnetic chuck by Oakley S. Walker, Walker Magnetics has grown into a market-leading provider of custom and standard magnetic products for workholding, lifting, material handling, scrap magnets and separation applications. Over its 125-year history, 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,” said 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 workholding segment with a complete lineup of permanent, electromagnetic, and electro-permanent magnetic chucks.

“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,” he added. “Industrial Magnetics intends to be a thoughtful steward to the Walker Magnetics legacy, history, and brand with continued investment in its long-term growth.”