Evoqua Water Technologies (Warrendale, Pennsylvania) recently completed its acquisition of privately held Magneto Special Anodes, with operations in Schiedam, The Netherlands, and Suzhou, China.
Financial terms were not disclosed.
The Magneto business includes approximately 120 employees across its two locations, and it focuses on the development and manufacture of anodes for the electrochemical industry and the refurbishment of electrochlorination cells for seawater electrolysis.
The Magneto business line will be combined with Evoqua's existing anode business, which operates under the Optima brand and is based in Union, New Jersey. The new Evoqua anodes business will be led by Pieter Hack, the managing director of Magneto’s business, and it will become a part of Evoqua's products and technologies division.
The new business segment will have sales and manufacturing footprints in North America, Europe, and Asia, and it will serve customers in a number of key vertical markets, Evoqua says.
“Magneto is a very complementary business to Evoqua, and as a result of our combination, we see accelerated growth potential across geographies and end-markets for anodes,” says Ron Keating, CEO of Evoqua. “We use specialty anodes in a number of our products and technologies.”
“Magneto has prospered through a focus on serving its customers with the optimal anode for each individual application,” Keating adds. “We look to continue that focus on helping our customers and partners succeed in the market. We are pleased to welcome Pieter and the entire Magneto team to the Evoqua family.”
Magneto, founded in 1957, invented and commercialized the first inert titanium-based anodes with an active precious metal coating. Its products are used throughout the electrochemical industry, as well as for cathodic protection; the production of chlorine and hypochlorite; electroplating; water purification; and hydrogen production.
The Magneto brand will join Evoqua's existing family of brands, including Electrocatalytic, Envirex, Ionpure, JWI, Nexed, Memcor, and Wallace & Tiernan.
“When we started this process to partner with another company, there was great interest,” Hack says. “But we wanted to team with a company like Evoqua, because their focus on customers and innovation and technologies is consistent with Magneto's. Evoqua was clearly the right fit for us to allow the business to prosper and have a dynamic future.”