Matrix Capital Markets Group, Inc., an independent investment bank, has announced the sale of Walker Magnetics Group, Inc. to Industrial Magnetics, Inc., a portfolio company of DNS Capital, LLC. Prior to the sale, Walker Magnetics was owned by Alliance Holdings, Inc., a private investment firm based in Horsham, PA.
Walker Magnetics, founded in 1896, is a manufacturer of highly engineered industrial magnetic products. Established in Worcester, MA, by Oakley S. Walker, the company has grown over the past century through a mix of acquisitions, product innovation and share gains with its loyal customer base. Throughout its history, the business 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. In 2011, the company partnered with Alliance Holdings as the family ownership group exited the business. Today, Walker Magnetics operates out of its Columbus, OH, and Windsor, CT, locations and has expanded its reach globally to service customers across the heavy lift, workholding, separation, scrap, standard lift and repair markets.
Matrix Director William O'Flaherty said, "Alliance Holdings has done an exceptional job preserving and enriching the legacy of the Walker family, its nearly 125 year heritage and its outstanding group of dedicated employees. We are honored to have been entrusted with this important engagement."
Barbie Spear, Senior Vice President and Chief Operating Officer of Alliance Holdings, noted, "This is an excellent result for the Walker Magnetics' employees, customers and suppliers. We wish the company continued success as part of the Industrial Magnetics team."
For more information contact:
Matrix Capital Markets Group, Inc.
Gateway Plaza
800 East Canal St., Ste. 850
Richmond, VA
www.matrixcmg.com
Walker Magnetics Group, Inc.
1385 M-75 S
Boyne City, MI 49712
855-253-0903
www.walkermagnet.com
Industrial Magnetics, Inc.
1385 M-75 S
Boyne City, MI 49712
800-662-4638
imi@magnetics.com
www.magnetics.com