Artemis announces sale of Ohio Tool Works to Hardinge
BOSTON and ASHLAND, Ohio, September 22, 2021 / PRNewswire / – Artemis Capital Partners (“Artemis”), a Boston-based private equity firm focused exclusively on partnering with differentiated industrial technology companies, completed the successful sale of its holding company, Ohio Tool Works, LLC (“OTW”) to Hardinge Inc. (“Hardinge”).
OTW designs and builds standard and custom lapping technologies for a diverse and growing base of global customers in the industrial, aerospace, defense and metalworking sectors. OTW’s highly sophisticated break-in solutions ensure that our customers’ critical products, such as aerospace components and high pressure cylinders, are precision finished for optimum performance and reliability.
“OTW is recognized for its advanced lapping technology and market-leading innovation, which complements Hardinge’s premium portfolio of high-precision turning, milling and grinding machines. OTW professionals are experts in everything related to break-in. said Ryan Levenson, CEO of Hardinge. “We are excited to integrate OTW and its technologies into our global sales and service network and to truly globalize this business. We welcome the OTW team to the Hardinge family and look forward to expanding the product lines through our global platform. “
James ward, Partner at Artemis, commented, “We are proud of what the OTW team has accomplished in partnership with Artemis. Given OTW’s industry-recognized commitment to innovation, customer and quality, the company is uniquely positioned to meet the growing demand in the global break-in area. markets with Hardinge. It’s a natural strategic fit and we’re happy to encourage them. “
Hardinge, Inc. is the trusted global provider of high-precision, computer-controlled machine tool solutions for critical and difficult-to-machine metal parts and advanced clamping accessories. With over 125 years of experience, Hardinge offers the widest variety of metal lathes, grinding machines, machining centers, collets, chucks, indexing devices, repair parts, devices standard and specialty clamps and other machine tool accessories. Hardinge’s solutions can be found in a wide range of industries including aerospace, agriculture, automotive, construction, consumer products, defense, energy, medical, technology and transport. The company designs, manufactures and distributes machine tools in more than 65 countries in North America, Europe and Asia. For more information on Hardinge, please visit: www.hardinge.com.
Ohio Tool Works (OTW) is a leading manufacturer of industrial lapping machines, tooling and abrasives. Recognized by the world’s largest tube and cylinder manufacturers, OTW designs and manufactures bespoke lapping solutions for a diverse and growing base of customers and applications in the global industries of industrial, aerospace, defense and metalworking. For more information on Ohio Tool Works, please visit: www.ohiotoolworks.com.
Artemis is a specialty private equity firm focused on acquiring and partnering with differentiated industrial technology companies, whose people and products enable and accelerate a healthier, safer, more connected, mobile, productive and equitable world. . For more information, please visit: www.artemislp.com.
SOURCE Artemis Capital Partners