Noveon closes $215 million Series C led by One Investment Management
Noveon closed a $215 million Series C led by a $200 million One Investment Management investment to expand U.S. rare-earth magnet manufacturing capacity.
Evidence notes
- Existing investors supplied the remaining $15 million, and OneIM received the right to appoint two Series C board members.
- Noveon said the financing would expand domestic capacity beyond 2,000 tonnes per year.
- The transaction also facilitated secondary sales by existing shareholders, but Noveon did not disclose the split between primary and secondary capital.
Company context
Noveon Magnetics manufactures sintered NdFeB rare-earth permanent magnets and magnetic assemblies in San Marcos, Texas, using virgin or recycled feedstock.