Shape Corp. signed a purchase agreement to acquire Magnode, an Ohio-based aluminum extruder, with the aim of elevating its aluminum offerings by leveraging Magnode’s 70-plus years of aluminum extrusion expertise and their vertically integrated business model. The two companies have had a successful business relationship prior to the acquisition, in which they collaborated on engineering projects and research and development around lightweighting best practices.
Magnode’s Trenton, Ohio facility includes extrusion, fabrication, and finishing capabilities. The plant has two presses, a 5,000 ton and 2,400 ton, are capable of meeting a wide range of size, weight, and tolerance requirements. It can produce complex, intricate extrusions ranging in size from 0.5 inches to 16 inches. Fabrication and finishing capabilities includes CNC machining, punching, anodizing, bending, washing, cutting and deburring.
Shape is tier-one automotive and industrial component supplier, specializing in lightweighting technologies with a focus on impact energy management systems and body structures. The Magnode purchase expands Shape’s lightweight product and process portfolio beyond ultra-high strength steel roll forming, thermoplastic injection molding, and composite pultrusion.
“Magnode is the perfect addition to Shape,” said Shape president Mark White. “Our company cultures align extremely well, we both have a passion for innovation, engineering, and customer service. Coupling Magnode’s decades of experience in the aluminum extrusion business with Shape’s global footprint and engineering know-how in impact energy management and body structures will mean that Shape is now a fully integrated, one-stop shop for customers seeking aluminum solutions. We can support customers with engineering, development and manufacturing in both 6000 or 7000 series aluminum applications and our value stream is optimized to provide the most competitive solutions possible.”
Going forward Magnode will operate as a division of Shape.A joint integration team, compromised of members from both companies, has been formed and will be managing the transition over the coming year. The Magnode facility will continue normal operations under current leadership and remain a “center of excellence” for aluminum, according to Shape.
“This acquisition allows Magnode to dream freely again, while imagining what we can become as we integrate into a larger world model,” said Martin Bidwell, Magnode president and chief executive officer. “I am very excited that the Magnode brand will continue for many years after I am gone. This magnificent company will forge on, breaking the boundaries that we personally could only dream about.”
The acquisition will close in early March after all transaction terms are complete.