Dexter Magnetic Technologies is planning to move to new, expanded headquarters in Elk Grove, Illinois. The new site is about 2.5 miles north from its present location northwest of Chicago.
According to an article in the Chicago Business Journal, the company is relocating to a new 81,676-square-foot industrial facility in Elk Grove Technology Park consolidating its footprint in the area into a single industrial and headquarters center and accommodating plans for future growth.
“As a result of the success of our customers, we are moving to a larger facility to better serve the needs of our customers,” says the company. Both the Dexter Headquarters and DXT Warehouse nearby will be moving to the new location. The move is expected to begin in the fourth quarter of this year and be concluded in February 2022. The new facility will add about 27,000 square feet more of manufacturing space.
Founded in 1951 as Permag Corporation, Dexter has grown over 70 years from being a distributor of permanent magnet products to a full-service manufacturer and designer of complex magnetic assemblies, including many medical solutions, for a global customer base. It also has an operation in Freiburg, Germany which will not be affected by the move.
In January, Dexter came under the ownership of Tinicum L.P. when it acquired controlling interest in Robert Family Holdings LLC, Dexter’s parent company. Tinicum, based in New York, is a private partnership that invests in companies in industrial manufacturing, distribution and technology. Other holdings include power electronics manufacturer Astrodyne TDI, Engineered Medical Systems, electronics packager Advantek, and Watlow, which manufactures electric heaters and thermal controls. For more info, see www.dextermag.com.