Carmelina Capital Partners has acquired Lafayette, Colorado-based Magswitch, a provider of magnetic grippers, magnetic tools, and other patented switchable magnetic technology solutions. No financial terms were disclosed.
LOS ANGELES–(BUSINESS WIRE)–Carmelina Capital Partners (“Carmelina”), a private investment firm that partners with owner-operators, announced it has recently completed an investment in Magswitch Technology Worldwide Holdings, LLC (“Magswitch” or the “Company”). Magswitch’s executive team will continue to lead the Company’s next phase of growth.
Founded in 2005 and headquartered in Lafayette, Colorado, Magswitch is a leading provider of magnetic grippers, magnetic tools, and other patented switchable magnetic technology solutions for industrial automation, robotics, material handling, and other tooling applications to manufacturing, fabrication, automotive, welding, woodworking, and other end-markets. Magswitch leverages its global footprint – including sites in the U.S., Europe, and Asia – to service a blue-chip customer base made up of OEMs, integrators, industrial distributors, and direct customers, among others. The Company is recognized as a pioneer in innovating, patenting, and commercializing disruptive switchable magnetic technologies and has developed a robust intellectual property portfolio through its research and development efforts to date.
The partnership will enable Magswitch to continue to execute on its significant growth trajectory and further establish itself as a premier global provider of switchable magnetic technology. Chief Executive Officer, David Morton, commented “We are delighted to have Carmelina on board as shareholders – importantly, we share a common belief in the future of our technologies and an appreciation for the corporate culture that values employees. Carmelina’s presence on our Board will add another dimension to our growth capability.”
Magswitch is a leading provider of magnetic grippers, magnetic tools, and other patented switchable magnetic technology solutions for industrial automation, robotics, material handling, and other tooling applications to a broad range of end-markets. For more information about Magswitch, please visit www.magswitch.com.
ABOUT CARMELINA CAPITAL PARTNERS
Carmelina Capital Partners is a Los Angeles-based private investment firm that partners with exceptional founder-led and family-owned businesses. Carmelina has extensive experience partnering with owner-operators across a broad range of industries to facilitate shareholder liquidity, support rapid growth, and drive accelerated value creation. For more information about Carmelina, please visit www.carmelina.com.