Permascand and Magneto Special Anodes merge to form electrochemical giant
Deal News | Feb 10, 2025 | PR Newswire Cision Permascand
Swedish company Permascand, owned by Altor, has merged with Magneto Special Anodes, a former brand of global water solutions company Xylem Inc., to form a new leader in the electrochemical sector. The merger brings together complementary customer segments and aims to leverage technological expertise into new opportunities, including green hydrogen, central to the industry's green transition. David Ekberg, taking the helm as CEO of the unified entity, brings vast industry experience to lead the growth and innovation journey. Despite the merge, both companies will initially operate under their existing names.
Sectors
- Electrochemical
- Green Technology
- Private Equity
Geography
- Sweden – Permascand is based in Sweden and the merger announcement was released from there.
- Netherlands – Magneto Special Anodes has production facilities in the Netherlands.
- China – Magneto Special Anodes also has production facilities in China.
Industry
- Electrochemical – The article discusses companies specializing in electrochemical catalytic coatings and electrodes.
- Green Technology – The merger aims to exploit opportunities in green hydrogen, an important component of green technology.
- Private Equity – Altor's involvement as the owner of Permascand highlights PE activity within the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Permascand | Target Company | Companies | A Swedish-based company involved in production of catalytic coatings and electrodes. |
| Magneto Special Anodes | Target Company | Companies | A company that merged with Permascand to create a leader in electrochemical solutions, formerly a part of Xylem Inc. |
| Altor | PE Firm / Owner | Companies | Private equity firm that owns Permascand. |
| Xylem Inc. | Vendor | Companies | Global water solutions company that formerly owned Magneto Special Anodes. |
| David Ekberg | CEO | People | Newly appointed CEO of the newly formed company from the merger. |
| Annica Bresky | Chair of the Board | People | Chair of the Board of directors of Permascand. |
| Helena Winje | PR Contact | People | Contact for further information regarding the announcement. |