Matrix Announces the Successful Sale of Walker Magnetics Group, Inc.

Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of Walker Magnetics Group, Inc. (“Walker Magnetics” or the “Company”) to Industrial Magnetics, Inc. (“IMI”), a portfolio company of DNS Capital, LLC (“DNS”).  Prior to the sale, Walker Magnetics was owned by Alliance Holdings, Inc. (“Alliance Holdings”), a private investment firm based in Horsham, PA.

Walker Magnetics, founded in 1896, is a globally recognized manufacturer of highly engineered industrial magnetic products.  Established in Worcester, MA by Oakley S. Walker, the Company has grown over the past century through a mix of acquisitions, product innovation, and share gains with its loyal customer base.  Throughout its history, the business has served thousands of customers in 190 countries worldwide, including steel mills, the rail industry, scrap processors, recycling centers, foundries, mining companies, machine shops, fabrication plants, shipyards, casting plants, machine tool distributors, automotive suppliers and steel services centers.  In 2011, the Company partnered with Alliance Holdings as the family ownership group exited the business.  Today, Walker Magnetics operates out of two locations in Columbus, OH and Windsor, CT and has expanded its reach globally to service its customers across the heavy lift, workholding, separation, scrap, standard lift, and repair markets.

The transaction was managed by David Shoulders, Managing Director and Head of Matrix’s Consumer & Industrial Investment Banking Group; William O’Flaherty, Director; John Mosser, Associate; Matt Oldhouser, Associate; and Duncan Rogers, Analyst.

Mr. O’Flaherty commented, “We consider this a tremendous outcome for all parties.  Alliance Holdings has done an exceptional job preserving and enriching the legacy of the Walker family, its nearly 125 year heritage, and its outstanding group of dedicated employees.  We are honored to have been entrusted with this important engagement.”

Barbie Spear, Senior Vice President and Chief Operating Officer of Alliance Holdings, noted, “This is an excellent result for the Walker Magnetics’ employees, customers and suppliers.  We wish the Company continued success as part of the IMI team.”  Regarding Matrix’s services, she added, “Our relationship with Matrix spans well over a decade.  This engagement has done nothing but further our confidence in their abilities to manage a rigorous, detailed process.”

Ballard Spahr LLP served as legal counsel for Alliance Holdings and the Company.