Master Magnetics, a U.S.-based manufacturer and distributor of magnetics, has announced its acquisition by Factor89, a private equity firm with a number of investments in the manufacturing and distribution industry.
According to Master Magnetics, the acquisition represents a new chapter for the company, with promises of increased customer satisfaction and sustainable growth through strategies focused on timely deliveries, lead times, and quality. Master Magnetics will continue to operate from its headquarters in Castle Rock, Colorado, with CEO Jennifer Brown still in her role. Existing management and staff will remain.
"For 48 years, Master Magnetics has committed to delivering exceptional products and has built a strong customer base," said Jennifer Brown, CEO of Master Magnetics. "Factor89's strategic approach and resources will enable the company to scale operations and innovate further to meet the market's evolving needs."
"We are thrilled to be a part of Master Magnetics," said Barrett Carlson, Factor89 managing partner. "We look forward to continuing to work with Jack, Jennifer, and the team to continue and build upon Master Magnetics' legacy of product innovation and delivering the highest quality of products and customer relationships. We have put together a terrific board with industry veterans to assist in the guidance of the company mission."
