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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