National Electronic Alloys, a distributor of specialty metals and alloys – including many magnetic alloys, has acquired distributor Ed Fagan Inc., building a larger enterprise and establishing a new parent company name of EFINEA in recognition of the deal.
he moves follow the acquisition of NEA by an investment management firm with intentions to maintain continuation of current management of NEA and stimulate growth. Headquartered in Oakland, New Jersey near New York City, NEA was formed in 1991 and is home to the world’s largest inventory of controlled expansion alloys and low expansion alloys including an extensive lineup of magnetic alloys and shielding alloys provided in various formats. In June 2022, NEA was acquired by Fox Three Partners, a private investment and consulting firm that specializes in taking companies to new growth levels.
“The owner and management of National Electronic Alloys have monetized on an exceptional company founded and run by the family for three generations,” prophetically explained Len LaPorta, managing director, of DAK Associates, an investment banking mergers and acquisition firm that represented NEA in the deal. “By joining forces with Fox Three Partners this acquisition propels NEA to enter into the next growth phase for their internationally recognized brand.” Top management took an equity position in the new company and operations continued basically the same, though poised more for expansion.
In mid-2023, NEA acquired EFI. It is based only about five miles away in Franklin Lakes, New Jersey, and also a global supplier of specialty metals and special purpose alloys. From two environmentally controlled warehouses in New Jersey and California, EFI specializes in providing controlled expansion alloys, soft magnetic alloys, refractory and electronic metals. EFI has been a leading supplier of soft magnetic alloys in bar, rod, sheet and coil. Easily magnetized and demagnetized, they are uniquely suited for specialized applications that require high permeability, low losses and low residual magnetism.
NEA provides a wide array of Defense Acquisition Regulation System (DFARS) compliant metals and alloys across the U.S. and abroad. For more than 30 years it has provided specialty metals and services to aerospace, telecom, semiconductor and defense industries. A full-service, ISO certified operation, it maintains extensive machining capacity to process special orders with fast turnaround. See www.nealloys.com and www.edfagan.com.