CONTACT INFORMATION:

Master Magnetics Inc

Trisha Lycas

303-688-3966

PR@magnetsource.com

 

RELEASE DATE:

April 8, 2024                                                                              

Master Magnetics Announces Acquisition by Factor89 Group

Transaction underscores commitment to exceptional customer service and value

Castle Rock, CO: Master Magnetics Inc., a US-based manufacturer and distributor of magnetics, is honored to announce its acquisition by Factor89 Group, a specialized private equity firm with a history of successful investments in the manufacturing and distribution industry.

"For 48 years, Master Magnetics has committed to delivering exceptional products and has built a strong customer base. Factor89’s strategic approach and resources will enable the company to scale operations and innovate further to meet the market’s evolving needs,” says Jennifer Brown, CEO.

The acquisition represents a new chapter for the company, promising enhanced customer satisfaction and sustainable growth through strategies focused on on-time delivery, lead times, and quality. Master Magnetics will continue to operate from its headquarters in Castle Rock, CO, with Brown continuing in her role. The existing management and staff will also remain, ensuring continuity and stability for our customers.

"We are thrilled to be a part of Master Magnetics. Founder Jack Nellessen has delivered the highest quality products to his customers for over 48 years. 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 products and customer relationships,” says Barrett Carlson, Factor89 Managing Partner. He adds, “We have put together a terrific board with industry veterans to assist in the guidance of the company mission.”

For media inquiries, please contact Trisha Lycas at PR@magnetsource.com.

About Master Magnetics Inc

Master Magnetics Inc manufactures and distributes magnets and magnetic devices for commercial, consumer and industrial use. With over four decades of industry excellence, Master Magnetics, and the Magnet Source® brand stand for exceptional quality, expertise, and customer service. For more information, call 1-800-525-3536 or visit www.magnetsource.com. 

About Factor 89 Partners LLC

Factor89 is a control equity finance company specializing in the lower middle-market. We partner with owners of companies who are looking to achieve outsized margin and operating income growth. We employ proven proprietary methodologies, invest in long term relationships, and deliberately enrich the lives of all involved. For more information, call 630-841-7552 or visit www.factor89.com

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