Yorkshire manufacturing firm Magma is acquired by US-based Unicat
A Yorkshire manufacturing firm is set for growth after being acquired by a US company
Unicat Catalyst Technologies, a portfolio company of White Deer Energy, has announced the acquisition of Magma Group, which is based in Dewsbury.
Magma is a specialist ceramics and catalyst manufacturer. Unicat, which is headquartered in Alvin, Texas is a global supplier of catalyst products and technical services. Together, the combined businesses will offer global catalyst and ceramics products and services for the refinery, syngas, chemical, steel, agriculture, and green energy industries.
Mark Stuckey, Magma’s chief executive officer and founder, will oversee the enlarged business, with Mani Erfan, co-founder of Unicat, staying on as the chief technical officer.
“Magma’s pioneering catalyst technology delivers unparalleled energy efficiency and production yield benefits to our customers around the world,” said Mr Erfan. “This transaction will expand on our existing partnership by bringing complementary products and manufacturing capability into one portfolio.”
“Unicat is an expert in developing and distributing innovative catalyst solutions with high-tech technical support,” said Mr. Stuckey. “I am excited to partner with the Unicat team to realise the many opportunities this combination will offer to both customers and employees.”
White Deer 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, which is based in New York and Houston, was advised by Locke Lord LLP and Alvarez and Marsal LLC. Magma was advised by Squire Patton Boggs and BDO.