We describe the construction and operation of an ultrahigh-vacuum system devoted to the study of layered magnetic nanostructures. The apparatus includes two growth chambers, where specimens nanostructured along the direction of growth (heterostructures, nanometric and subnanometric thin films and multilayers) are deposited either by molecular beam epitaxy or pulsed laser deposition, and a measurement chamber, where they are analyzed in situ by a variety of electron spectroscopies. Magnetic characterization is obtained by spin resolved inverse photoemission spectroscopy and magneto optical Kerr effect technique. Vacuum transfer towards other experimental facilities is also available. As examples of application, results from half metallic magnetic oxides, such as magnetite (Fe3O4) and manganite (La2/3Sr1/3MnO3) thin films, and ferromagnet/semiconductor interfaces (Fe/Ge(0 0 1)) are also reported. (c) 2005 Elsevier B.V. All rights reserved.