Energy Fuels agreed to buy Vacuumschmelze from private‑equity holder Ara Partners in a transaction valued at roughly $1.9 billion. The deal, structured as cash and stock, will make the German magnetics specialist a wholly‑owned subsidiary of the U.S. uranium and rare‑metal producer. The acquisition follows months of strategic talks and positions Energy Fuels to diversify beyond its core fuel portfolio.

Vacuumschmelze designs high‑performance magnetic components, holding over 400 patents and serving more than 1,000 customers worldwide. Its production footprint spans North America, Europe and Asia, enabling rapid delivery to sectors such as automotive, industrial automation and renewable energy. The firm’s technology portfolio is a rare blend of rare‑earth and ferrite solutions.

Ara Partners bought Vacuumschmelze in 2023, aiming to capitalize on the magnetics market’s growth amid rising demand for electric vehicles and wind turbines. After a year of operational improvements and expanding the customer base, Ara now exits with a cash‑plus‑stock payout, reflecting a strong valuation premium for its IP assets.

The transaction gives Energy Fuels a foothold in advanced magnetics, a sector poised for double‑digit growth as clean‑tech manufacturers seek lighter, more efficient motors. By integrating Vacuumschmelze’s R&D and global supply chain, Energy Fuels can cross‑sell to its existing mining customers and reduce reliance on volatile uranium prices.