CONTACT INFORMATION:

Master Magnetics Inc

Trisha Lycas

303-688-3966

PR@magnetsource.com

Leadership Change Designed to Drive Growth & Innovation

CASTLE ROCK, Co., Oct. 31, 2024 /PRNewswire/ -- Master Magnetics Inc., a leading US-based manufacturer and distributor of magnets and magnetic devices, has announced a new CEO to evolve, grow and build its business.

The newly appointed Barrett Carlson is also a Partner in Factor89, the private equity firm that acquired Master Magnetics in April 2024. The Factor89 partners have an extensive history of successful investments in the manufacturing and distribution industry, and Carlson has a strong track record of growing businesses using methods implemented throughout his work in consulting, corporate development and fund management. 

"I am thrilled to take on this role. For years, Master Magnetics has been the go-to source for magnets for major retailers and OEM applications. We are building upon our talented team with a focus on innovation and collaborating with our customers to develop modern solutions to meet their evolving needs," Carlson said. 

"Barrett's appointment as CEO comes at this important time in the 48-year history of this business. After a thorough search process, it was clear that the very best candidate for the job was right in our midst. Barrett's talent and commitment to culture and relationships, combined with the expertise of additional key leaders and members of the board Jim Hallene and Benjamin Kleiman represent remarkable breadth and depth in retail and distribution to help propel the company forward," said Brandon Barnholt, Master Magnetics' newly appointed Chairman of the Board. 

About Master Magnetics Inc.
Master Magnetics Inc. has been a leading innovator in practical magnetic solutions since 1976. The company's growth has been fueled by a deep understanding of retail and industrial customer needs and the development of strong supply chains to deliver the right products at the right time. Today, Master Magnetics and the Magnet Source^® brand stand for exceptional quality, product expertise and customer service. For more information, visit www.magnetsource.com.