US firm acquires leading manufacturer
Magma Group, a leading ceramics and catalyst manufacturing and related services business has been acquired by the Texas-based Unicat Catalyst Technologies.
The deal builds on an existing partnership between the firms and will see the combined business offer vertically-integrated global manufacturing and distribution of innovative catalyst and ceramics products and services for the refinery, syngas, chemical, steel, agriculture, and green energy industries.
Mark Stuckey, chief executive officer and founder of Dewsbury-based Magma, will oversee the enlarged business, with Mani Erfan, co-founder of Unicat, staying on as the chief technical officer.
Erfan said: “Magma’s pioneering catalyst technology delivers unparalleled energy efficiency and production yield benefits to our customers around the world.
“This transaction will expand on our existing partnership by bringing complementary products and manufacturing capability into one portfolio.”
Stuckey added: “Unicat is an expert in developing and distributing innovative catalyst solutions with high-tech technical support. I am excited to partner with the Unicat team to realise the many opportunities this combination will offer to both customers and employees.”
Unicat is a portfolio company of White Deer, a middle market private equity firm that invests in companies focused on business that support the supply chain of the energy industrials and infrastructure sectors. It invested additional capital in Unicat to support the acquisition.
Jim Meneely, managing partner at White Deer, commented: “Mark and his team have built an incredible company with a strong brand resulting in impressive growth over the last decade. We look forward to partnering with Mark and the Magma team in supporting the Company’s future growth as it continues to innovate and supply to its loyal customer base.”
Meghan Leggett, principal at White Deer, added, “Magma is a transformative acquisition for Unicat, and we believe by combining Magma’s manufacturing technology with Unicat’s product portfolio and sales network we will support growth in industrial activities across the U.S. and internationally.”
White Deer was advised by Locke Lord LLP and Alvarez and Marsal LLC. Magma was advised by Squire Patton Boggs (Paul Mann, Guy Ruddy and Harry Hobson) and BDO (Fletcher Adamowicz and Will Light).
