Industrial Magnetics, Inc. has acquired Walker Magnetics Group, Inc., North America’s oldest industrial magnet manufacturer. The deal brings together two longtime industry leaders, IMI now marking its 60th anniversary while Walker has been in business 125 years.
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.
“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, IMI’s chief business development officer. “It also broadens our 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. We intend to be a thoughtful steward to the Walker Magnetics legacy, history, and brand with continued investment in its long-term growth.”
Over its 125-year history, Walker 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, shipyards, casting plants, machine tool distributors, automotive suppliers and steel services centers.
IMI recently marked its 60-year anniversary as a manufacturer and reseller of industrial magnetic products and assemblies for holding, lifting, fixturing, automation and metal separation. In the past decade, the company has acquired several other companies including Prater Industries, Sterling Systems & Controls, Javelin Manufacturing and Clamp Mfg Co., all in the USA. The growth has spurred physical expansion as well, with an 18,000 sq ft manufacturing addition in 2015 and another 35,000 sq ft addition opening this spring. For more info, see www.magnetics.com and www.walkermagnet.com.