Deal designed to strengthen magnet company's business in the U.K.
Bunting Magnetics Europe Ltd., a manufacturing and sales operation center based in Berkhamsted, England, has acquired E-Magnets UK Ltd., based in Sheffield, England, which specializes in direct and wholesale supply of magnetic products through its www.e-magnetsuk.com website.
E-Magnets UK was founded in 2005 by Alistair Richardson. He will continue to oversee the company’s everyday operations.
Bunting Magnetics Europe is a part of Bunting Magnetics Co., headquartered in Newton, Kan.
According to a news release from Bunting, the acquisition bolsters the company's market position and puts it one step closer to itsstrategic growth plan.
“We are expanding our capabilities in today’s rapidly growing e-commerce environment,” says Robert Bunting, Bunting owner and CEO. “E-Magnets UK significantly expands Bunting’s market presence in the U.K. and abroad, while at the same time significantly increases our online business presence which, until today, was done through our e-commerce sites magnetuk.com and buymagnets.com. E-Magnets UK has outstanding market recognition for their product assortment and is well known within the European Union.”