
A world-class family of magnetics companies has come together in the U.S. under the ownership of Magnetic Holdings LLC with the financial backing of New York investment firm Tinicum. Beginning with the acquisition of Dexter Magnetic Technologies in 2021, then of Magnetic Component Engineering in 2022 and most recently joined by Electron Energy Corporation (EEC) in 2024, the group now encompasses three premium American magnetics design and manufacturing concerns in the portfolio. There is a significant likelihood that more transactions could expand the group in the future.
Led by Joe Stupfel as CEO of Magnetic Holdings, who is also CEO of Dexter, the businesses of the group design and manufacture specialized magnetic solutions for the medical, aerospace, defense, semiconductor manufacturing and industrial end markets. Their operations span the country from coast to coast, with four facilities in three distinct locations and a vertically integrated manufacturing process, while Dexter also has a European office in Freiburg, Germany. Collectively, they have nearly 500 employees and over 200,000 square feet of manufacturing space. All three of the companies make DFAR- and ITAR-compliant products.
The companies collaborate to provide integrated solutions, utilizing technically advanced raw materials, world-class magnet fabrication and assembly capabilities, and expertise in designing and developing customized high-performance motors and electromechanical components, supported by one of the largest technical engineering and commercial teams in the industry. Tinicum, which has over $2.4 billion of committed capital, is positioned to provide the financial, operational and strategic resources to grow and the stability that comes from its long-term ownership philosophy.

In the most recent transaction, EEC joined Magnetic Holdings in July. The Walmer family, who founded EEC as the world’s first manufacturer of samarium cobalt magnets in 1970, retained a significant minority interest in the parent company Magnetic Holdings while Michael Walmer, chairman and CEO of EEC, joined the Magnetic Holdings board of directors. Financial terms of the transaction were not disclosed.
Headquartered in Lancaster, Pennsylvania, EEC is the only vertically integrated American manufacturer of DFARS- and ITAR-compliant samarium cobalt magnets.
“In 54 years, EEC has grown from two people with a great vision and little resources to a team of 150 committed and talented individuals serving our specialized markets with strength,” said Walmer. “EEC will continue to find new opportunities to do what has never been done before in support of space exploration, aviation, defense, medical and energy initiatives. Our growth will be enhanced by this new, dynamic relationship with these strong partners. This growth enables EEC to keep pace with increasing vital customer demand, providing continual purposeful work for our employees.”
“After exploring partnerships with firms that are also rooted in and appreciate the advantages of our family-run culture,” he continued, “we found one that stands out as extremely well aligned with our values: Tinicum. Both Tinicum and EEC are led by their founding families, ensuring a continuation of vision for the future and legacy for the long term. Moreover, Magnetic Holdings now features three of the strongest, most entrepreneurial magnet companies in the United States. Together, each company will benefit from collaboration within Magnetic Holdings, the strength and scale of the larger enterprise, and the capital resources of Tinicum, while also maintaining agility and vitality in each of our respective markets. Based on our talent and creative spark, we know that EEC will continue to engineer solutions for a healthy, secure nation and for the challenges of a dynamic world for generations to come.”
“We are thrilled to join forces with EEC, a firm whose capabilities, employees, and leadership we hold in the highest regard. We are excited to now be able to offer our customers a comprehensive solution—unique in the magnetics industry—with the ability to design and produce custom samarium cobalt formulations, manufacture magnetics with world class speed, precision, and quality, and engineer, design and build assemblies and motors customized to customer applications,” said Stupfel.

Rich Dosik, partner at Tinicum, stated, “We are thrilled to partner with the Walmer family and the team at EEC, and we are honored that they have entrusted us with their business. We have the utmost respect and admiration for EEC. As we have done at both Dexter and MCE, we are excited to continue to make significant investments into EEC to help them grow as we build Magnetic Holdings for the long term.”
Founded in 1974 as a family investment office, Tinicum is a private partnership that manages a diversified group of industrial manufacturing, distribution and technology companies. Based in Manhattan, it also has offices in San Francisco, Houston and Frankfurt. On its website, Tinicum states that “Magnetic Holdings, which acquired Dexter in 2021, MCE in 2022 and EEC in 2024, seeks to expand by acquiring other providers of magnetic solutions.”
For more info, see www.magneticholdings.com and www.tinicum.com.