Hyperion acquires Crafts Technology
Hyperion Materials & Technologies has announced the acquisition of Crafts Technology, a high-precision provider of tailor-made cemented tungsten carbide solutions.
“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.