Alliance Holdings Acquires Walker Magnetics

A 100 percent employee-owned holding company has acquired a U.S.-based global leader of magnetic material handling solutions.

This acquisition by Alliance Holdings, Inc. is the result of a strategic initiative spearheaded by Dick Longo, the president and chief executive officer of Walker Magnetics Group Inc. (Worcester, MA).

Longo explains, “Walker actively and methodically sought out a partner to help us develop and implement cutting-edge strategies to significantly improve business processes and build a stronger company. Alliance Holdings has an impressive track record of strengthening companies. Their financial and operational expertise will make Walker Magnetics better equipped to identify new opportunities and increase sales throughout the world.”

Longo continues, “Walker Magnetics and Alliance Holdings will combine old-line ‘Made in the USA’ industrial strength with modern financial and operating management. Everyone at Walker is looking forward to the next chapter in our rich history.”

Kenneth J. Wanko, the president and chief executive officer of Alliance Holdings, comments, “We are excited to add Walker Magnetics Group to our diversified portfolio of operating companies. Walker Magnetics’ position as an industry leader in innovative product solutions and outstanding customer service will be reinforced through additional financial and strategic resources. The Company will be solidly positioned for growth through enhanced research, development, marketing and sales of exceptional products globally.”

www.walkermagnet.com , www.allianceholdings.com