Hyperion Materials & Technologies announces acquisition of Crafts Technology

Complementary deal enhances global manufacturer's tailor-made tungsten carbide capabilities

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Apr 15, 2021, 11:02 ET

WORTHINGTON, Ohio, April 15, 2021 /PRNewswire/ -- Hyperion Materials & Technologies, a leading global materials science company that specializes in developing advanced hard and super-hard materials for a wide range of industries and applications, today announced the acquisition of Crafts Technology, a high-precision provider of tailor-made cemented tungsten carbide solutions.

Crafts Technology, located in Elk Grove Village, Ill., USA, and now a part of Hyperion Materials & Technologies, is a supplier of tailor-made products in cemented carbide and other advanced materials for a wide range of industries, including electronics, aerospace, automotive, fluid dispensing and medical.

"We are thrilled to combine Crafts Technology's complementary engineering expertise and manufacturing capabilities with Hyperion's materials expertise and global footprint," said Ron Voigt, CEO of Hyperion. "This move positions us as a leading provider of finished tailor-made tungsten carbide components used in demanding applications for critical end-user markets that include aerospace, automotive, precision rotary cutting, medical, electronics, and fluid handling and dispensing. Together, we will continue to focus on service, innovation, and growth as a non-rival supplier to our customers."

Crafts, which has a legacy that spans more than 100 years, shares Hyperion's mission of applying materials science, engineering, and manufacturing expertise to develop novel and creative engineered solutions that enhance the performance and productivity of its customers. In addition to developing engineered solutions from tungsten carbide, Crafts possesses expertise in polycrystalline diamond (PCD), advanced ceramics, high-strength steels, and other innovative materials.

"Crafts and Hyperion have a decades-long history of collaboration, dating back to when Hyperion was a part of Sandvik," said Jeffrey Taylor, President and CEO of Crafts. "Hyperion has always delivered materials of exceptionally consistent quality with remarkable service and support that has empowered us to develop optimal solutions for our customers. Now, we can work together as colleagues to provide even greater value across a broader range of industries and a wider geographic footprint."

Voigt added, "We look forward to what we can accomplish together. Our company cultures are already very much aligned, supporting a model focused on employee engagement through ownership, innovation and continuous improvement."

Taylor will continue to lead Crafts Technology as President, reporting into the Hyperion organization.

Prairie Capital Advisors Inc. served as financial advisor to Crafts.

About Hyperion Materials & Technologies

Hyperion is a global leader in developing hard and super-hard materials. To learn more, visit HyperionMT.com or check out Hyperion's profiles on LinkedIn or YouTube.

About Crafts Technology

Crafts, located in Elk Grove Village, Ill., USA, is a supplier of tailor-made products made of advanced materials. Visit CraftsTech.net or check out Crafts' LinkedIn page to learn more.

Contact: Alexandra Kusoffsky, [email protected]

SOURCE Hyperion Materials & Technologies