Minnesota-based supplier Fey Promotional Products Group (asi/54040) has announced it has acquired the assets of Magna-Tel, Inc. (asi/68480). Financial terms of the deal were not disclosed.
“This acquisition brings together two long-standing suppliers of promotional products,” said Mike Fey, president of Fey Promotional Products. “We truly are excited to have the opportunity to align ourselves with a company such as this that has a reputation of the highest product quality and an extensive history of excellent customer service.”
Founded more than 50 years ago, Magna-Tel specializes in American-made flexible magnets and removable skins for electronic devices called Techno-Skinz “I’m very excited to have become a part of the Fey Promotional Products family,” said Mindy Statler, operations manager at Magna-Tel. “Fey is one of the promotional products industry leaders and aligning with their team enables Magna-Tel to move upwards to greater things not yet achieved."
This latest deal continues Fey’s expansion strategy. Fey acquired Reflectix (asi/81233) in 2009 and brought Molenaar, rebranded as Mi Line by Fey (asi/71032), into the company fold in 2013. “This [new] union will result in something very special,” said Ron Williams, Fey’s marketing director. “We’ll have the ability to completely customize relevant consumer needed items in addition to moving into the tech side of promotional items via the Magna-Tel Skinz. I see this as a win for Fey, a win for Magna-Tel and a win for the entire promotional products industry.”
Both Fey and Magna-Tel will be exhibiting in separate booths at the upcoming ASI Show Orlando.