Permag Rebrands as Market Leader in Rare Earth Magnet Technologies
Deal News | Jun 27, 2025 | PR Newswire Cision Permag
In a strategic move to consolidate its leadership in the market, Magnetic Holdings, LLC, the parent company of Dexter Magnetic Technologies (DMT), Magnetic Component Engineering (MCE), and Electron Energy Corporation (EEC), has been rebranded as Permag. This rebranding marks a significant step as the group aims to leverage the unique strengths of the three companies, while they continue to operate under their original names. The collaboration enables Permag to position itself as an industry leader in the procurement, design, and manufacture of rare earth magnets. The group is set to offer unmatched expertise and integrated advantages in engineering and manufacturing, catering to critical vertical markets such as aerospace, defense, medical technology, and semiconductors. Under the leadership of President and CEO Joe Stupfel, Permag is committed to extending its legacy of excellence and innovation. The rebranding consolidates 177 years of magnetic innovation experience among DMT, EEC, and MCE, aiming to enhance customer support, operational efficiency, and global service delivery.
Sectors
- Electronics and Electrical Engineering
- Aerospace and Defense
- Medical Technology
Geography
- United States – The companies involved, DMT, EEC, and MCE, operate primarily within the United States, and EEC is the only North America-based manufacturer of SmCo magnets.
Industry
- Electronics and Electrical Engineering – This industry classification is relevant as the article discusses companies that are involved in the manufacturing and engineering of magnetic materials and components, essential to electronics and electrical applications.
- Aerospace and Defense – Significant because the companies involved provide products and expertise to the aerospace and defense industries, contributing to critical technologies.
- Medical Technology – Relevant because the article mentions that the companies collectively offer solutions to the medical technology industry, thereby impacting this sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Permag | Target Company | Company | The newly rebranded company, previously known as Magnetic Holdings, LLC, that now encapsulates the operations of DMT, EEC, and MCE. |
| Dexter Magnetic Technologies | Subsidiary | Company | Involved in research and development, high precision manufacturing, and complex assemblies as part of Permag. |
| Electron Energy Corporation | Subsidiary | Company | A North America-based producer of Samarium-Cobalt magnets with material expertise, part of the Permag group. |
| Magnetic Component Engineering | Subsidiary | Company | Provides advanced manufacturing techniques as part of Permag's group of companies. |
| Joe Stupfel | President and CEO | Person | The leading executive at Permag, overseeing its strategic direction and market positioning. |