Industrial Magnetics Inc. acquires Javelin Manufacturing
Industrial Magnetics, Inc.(IMI) has announced the acquisition of Javelin Manufacturing of Fort Wayne, IN. Javelin Manufacturing specializes in Eddy Current Separators and engineered systems found in the scrap, recycling, waste, mining, and related industries.
According to Dennis O'Leary, IMI's Chief Business Development Officer, "The acquisition of Javelin marks IMI's next step in expanding our metal separation offerings. Javelin's footprint, reputation and well-established relationships provide a unique opportunity for us to grow the Javelin brand, as well as IMI's current ferrous separation product line. We will certainly flank the Javelin brand with additional sorting technology via future acquisitions."
Javelin's owner, Jim Merrick, states, "This acquisition allows Javelin to take that next step to become more proactive in providing a larger and more diverse product offering to the scrap, E-scrap and post-consumer recycling markets. It is going to be a very exciting time for us."
Javelin's experienced and dedicated staff will remain intact to serve and support the company's rapid growth, and the Fort Wayne location will continue to operate as the primary engineering and design center for the brand. Capital investments to bolster the current testing platform, modernize assembly capabilities and create a toll processing cell are all slated for later this year.