Dexter Magnetic Holdings Acquires Magnetic Component Engineering

March 25, 2022

Elk Grove Village, Illinois (March 21, 2022) – Dexter Magnetic Holdings, LLC, the parent company of Dexter Magnetic Technologies, Inc. (“Dexter”) has announced the acquisition of Torrance, California-based Magnetic Component Engineering, LLC (“MCE”) from its founder, Linda Montgomerie, and her sons. Dexter is owned by TSL Engineered Products, LLC, which is majority-owned by Tinicum L.P. and affiliated funds managed by Tinicum Incorporated (“Tinicum”). Financial terms of the transaction were not disclosed.

The transaction brings together two of the leading designers and manufacturers of permanent magnets and magnetic assemblies in North America. Both companies complement each other’s strengths to serve critical applications for aerospace, defense, medical, semiconductor, and industrial customers, offering a comprehensive range of design-engineered and build-to-print solutions under the Dexter and MCE brands.

In selecting Dexter, Ms. Montgomerie, sought to ensure that MCE and its employees were positioned for long-term success. “In selecting an acquiror, I looked for a company that aligned fully with MCE’s mission, who valued quality, precision, and customer satisfaction. I am confident that Dexter and Tinicum will provide a great home for MCE.”

Ms. Montgomerie’s son and MCE business application developer, Alexander Nanji, grew up with the business and was focused on the employees of MCE continuing to work for a quality organization. “I am excited to see MCE transition to Dexter,” he said. “I have personal relationships with many of the employees, and it was important for me to make sure that our family business ended up in good hands and that our employees would continue to be supported.”

Dexter’s CEO, Joe Stupfel, stated, “we are excited to work with MCE, a firm we have long viewed as a perfect complement to Dexter, and its highly talented employees. Coupling Dexter’s expertise in magnetic design, engineering, and precision manufacturing with MCE’s leading capabilities in quick-turn, build-to-print magnetic fabrication creates a powerful comprehensive offering for our customer base.”

Stupfel added, “Our employees, both at Dexter and MCE, are our most important asset. Investing in their career and personal development not only benefits them but increases the combined Dexter-MCE’s long-term potential. The larger size of our business creates opportunities for all of Dexter and MCE employees to grow.”

Rich Dosik, partner at Tinicum, stated, “We admire the business that Ms. Montgomerie and her family built and are deeply honored that they chose to work with Dexter. We have made significant investments at Dexter to enhance its growth prospects, and at MCE, we are similarly eager to invest to build on its strengths of exceptional customer service, relentless commitment to quality, and operational excellence.”

About MCE
MCE manufactures permanent magnets and magnet assemblies for the most demanding applications for aerospace, defense, medical, and industrial technology customers. MCE manufactures DFARS and ITAR compliant products and holds AS9100D and ISO9001 certifications. For more information about MCE, visit www.mceproducts.com.

About Dexter
Dexter provides specialized magnetic components and assemblies for use in demanding applications in the medical, aerospace, defense, semiconductor manufacturing, oil and gas, and industrial end markets. Dexter has been solving complex customer challenges since 1951 and manufactures its products at its headquarters in Elk Grove Village, Illinois. Dexter manufactures DFARS and ITAR compliant products and holds AS9100D, ISO13485, and ISO9001 certifications. For more information about Dexter, visit www.dextermag.com.

About Tinicum
Tinicum, founded in 1974 as a family investment office, is a private partnership that manages a diversified group of industrial manufacturing, distribution, and technology companies. Based in New York, Tinicum also has offices in San Francisco, Houston, and Frankfurt. For more information about Tinicum, visit www.tinicum.com.

Media Contact:
Erik Petersen, Vice President of Sales & Marketing
epetersen@dextermag.com