Neo Performance Materials Acquires Controlling Interest in SG Technologies (SGTec)

April 18, 2023

Neo Performance Materials (TSX: NEO) acquired a 90% controlling interest in SG Technologies Group Limited (SGTec), a leading UK-based manufacturer of rare-earth and high-performance magnets, with an initial payment of £10.8M plus earn-outs. The acquisition expands Neo's magnet manufacturing and R&D footprint in Europe, bringing SGTec's ~200+ employees and capabilities into Neo's global magnetics division to support growing demand from electric vehicles, electronics and clean energy markets.

Buyers
Neo Performance Materials Inc.
Targets
SG Technologies Group Limited (SGTec)
Industry
Manufacturing
Location
England, United Kingdom
Transaction Type
Buyout

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