MAUSTON, Wis., December 4, 2023 (Newswire.com) - Magneto Movement, Inc., a portfolio company of Ilion Capital Partners, is excited to announce the successful acquisition of Dumore Corporation, a leader in electric motors, motor assemblies, industrial tools, and emergency starter solenoids.
Dumore Corporation was established in 1913 by Louis Hamilton and Chester Beach, beginning its tradition of turning creative ideas into high-quality products built with better designs and components. Over 100 years later, these same founding principles still drive Dumore today.
This strategic acquisition represents a significant milestone for Magneto Movement, reinforcing the firm’s commitment to creating a leadership position in motion control. Magneto Movement entered the motion control market in 2021 by acquiring AM Equipment, a leader in windshield wiper systems, fractional horsepower motors, and motion control applications to industrial companies globally.
Paul Olesh, CEO of Magneto Movement, said, “It’s exciting to partner with the incredible team at Dumore. Dumore has a century-long history of driving innovation and delivering high-quality products and solutions to the market, and the management team at Magneto Movement is well-positioned to respect that legacy and to partner with the Dumore team for the next phase of growth.”
“It was an easy choice to partner with Magneto Movement once we understood their commitment to growing and innovating in DC motors and motion control,” said David Messer, part of the ownership group that sold Dumore and now the general manager of the company.
Customers and suppliers of Dumore can expect a seamless transition, with the same dedication to excellence and personalized service that they have come to expect.
About Ilion Capital:
Ilion Capital Partners is an operationally-focused industrials PE firm. Ilion partners with sellers and management teams to identify growth opportunities in old-economy business, investing both financial and human capital in lower middle market manufacturers, distributors, and
industrial service providers. For more information, please visit www.ilioncapital.com.
About Magneto Movement:
Magneto Movement Inc. (“Magneto” or the “Company”) engineers and manufactures specialty window wiper systems, electric motors, controlled motion assemblies, industrial tools, and emergency starter solenoids through AM Equipment Inc., located in Jefferson, Oregon, and
Dumore Corporation, located in Mauston, Wisconsin. Products are sold worldwide to original equipment manufacturers, distributors, and end users. For more information, please visit www.amequipment.com and www.dumorecorp.com.
Paul Olesh
Chief Executive Officer
[email protected]
616-610-6950
Original Source: Magneto Movement Completes the Acquisition of Dumore Corporation
The post Magneto Movement Completes the Acquisition of Dumore Corporation first appeared on Reliable News.
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