M&A Deal Summary

Hardinge Acquires Ohio Tool Works

On August 31, 2021, Hardinge acquired manufacturer Ohio Tool Works from Artemis Capital Partners

Acquisition Highlights
  • This is Hardinge’s 1st transaction in the Manufacturing sector.
  • This is Hardinge’s 2nd transaction in the United States.
  • This is Hardinge’s 1st transaction in Ohio.

M&A Deal Summary

Date 2021-08-31
Target Ohio Tool Works
Sector Manufacturing
Buyer(s) Hardinge
Sellers(s) Artemis Capital Partners
Deal Type Add-on Acquisition

Target

Ohio Tool Works

Ashland, Ohio, United States
Ohio Tool Works is a manufacturer of industrial honing machines, tooling, and abrasives. OTW operates a 50,000 square foot manufacturing facility in Ashland, Ohio, with sales offices in Houston and expanding distribution channels worldwide. Ohio Tool Works was founded in 2004 and is based in Ashland, Ohio.

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Buyer(S) 1

Buyer

Hardinge

Elmira, New York, United States

Category Company
Founded 1890
Sector Machinery
Employees1,496
Revenue 315M USD (2015)
DESCRIPTION

Hardinge is a global provider of high precision, computer-controlled machine tool solutions for critical, hard-to-machine metal parts and advanced workholding accessories. Hardinge offers a variety of metal cutting turning machines, grinding machines, machining centers, collets, chucks, index fixtures, repair parts, standard and specialty workholding devices, and other machine tool accessories to provide a full solution for your business needs. Hardinge’s solutions can be found in a broad base of industries including aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation. Hardinge is based in Berwyn, Pennsylvania.


DEAL STATS #
Overall 6 of 6
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
State: Ohio M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Weisser

St. Georgen, Germany

Weisser is a manufacturer and turnkey solution provider of high precision, multifunctional turning machines, and turning centers as well as automation solutions. Weisser is based in St. Georgen, Germany.

Buy -

Seller(S) 1

SELLER

Artemis Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
Size Small
Type Sector Agnostic
DESCRIPTION

Artemis Capital Partners is a private equity firm focused on buyouts and growth equity investments in industrial technology businesses. Artemis likes businesses with unique and defensible products, technology and/or intellectual property. Specific areas of interest includes industrial automation and software, life sciences laboratory automation and software, controls, devices, sensors and instrumentation. Target companies generate revenues of $2 to $50 million and at least $500k of EBITDA. Artemis is based in Boston, Massachusetts.


DEAL STATS #
Overall 3 of 6
Sector: Manufacturing M&A 1 of 2
Type: Add-on Acquisition M&A Deals 2 of 5
State: Ohio M&A 1 of 1
Country: United States M&A 2 of 5
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-24 Maury Microwave

Ontario, California, United States

Maury Microwave is a provider in measurement and modeling device characterization solutions and metrology, instrument, and lab-grade coaxial and waveguide components, adapters, and cable assemblies. Maury Microwave was founded in 1957 and is based in Ontario, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 RM Lucas

Alsip, Illinois, United States

RM Lucas is a manufacturer of coatings, sealants, and adhesives for roof repair and restoration. RM Lucas solves complex environmental challenges for its customers - from weather, fire, and wind resistance to reflection, energy efficiency, and effective life increases. RM Lucas was founded in 1912 and is based in Alsip, Illinois.

Buy -