WORTHINGTON, Ohio—Materials science company Hyperion Materials & Technologies reported in July that it entered into a definitive agreement to acquire the operations of Damen Carbide Tool Co., Inc., a Wood Dale, Illinois-based company that specializes in grinding and EDM finishing of carbide and ceramic components. Hyperion is a developer of advanced hard and super-hard materials.
Damen Carbide also develops tools for metal packaging, slitting, sawing, and general industrial applications. Its core competencies and manufacturing capacity will be a significant addition to Precision Solutions by Hyperion®, a business unit that provides custom services and components for “the most demanding applications,” according to a release from Hyperion.
“As we continue to grow our capabilities in carbide component manufacturing, the addition of the Damen Carbide operation expands our range of abilities to tailor custom parts to customers’ requirements,” said Ron Voigt, chief executive officer of Hyperion Materials & Technologies, in the release. “Their expertise in the forming of carbide, ceramic, and steel, paired with their focus on quality, positions them to be a key part of our team going forward.”
Damen Carbide has “built a reputation for providing high quality finished components and wear parts, with a focus on quality, service, and delivery,” Hyperion said in the release.
“We look forward to integrating our precision manufacturing capabilities and expertise into the Hyperion Materials & Technologies family,” said John Bachmeier, president of Damen Carbide, in the release. “We pride ourselves on developing custom parts, tailored to the needs and demands our customers require, and we see clear synergies between our goals and the business of Hyperion’s Precision Solutions brand.”
Precision Solutions by Hyperion includes Hyperion’s global facilities. It is said to maximize the collective strength of Crafts Technology, GLE Precision, Aggressive Grinding Service, Dura-Metal, and the recently acquired operations of Prism Technologies to provide specialized finishing capabilities for tailored, high-quality wear components.
Key business leaders at Damen will remain in place, and report into the Hyperion organization.
At the time of this writing, the transaction was expected to close early in the third quarter of 2024, subject to completion of customary closing conditions, Hyperion said in the release.