Hardinge Inc. Acquires Ohio Tool Works
BERWYN, Pa. & ASHLAND, Ohio, Sept. 1, 2021 /PRNewswire/ — Hardinge Inc. (“Hardinge”) and Ohio Tool Works, L.L.C. (“OTW”), have completed a definitive agreement under which Hardinge has acquired OTW, enhancing Hardinge’s machine tool and workholding portfolio with an attractive platform of high precision honing machines, tooling and abrasives.
OTW designs and builds both standard and custom honing technology for a diverse and growing base of global customers across the industrial, aerospace, defense, and metal working industries. OTW’s highly-engineered honing solutions ensure that its customers’ own mission-critical products – such as aerospace components and high-pressure cylinders – are precisely finished for performance and reliability.
“OTW is recognized for its advanced honing technology and market leading innovation, which complement Hardinge’s premium portfolio of high precision turning, milling and grinding machines. The OTW professionals are experts in all things honing.” said Ryan Levenson, Hardinge CEO. “We are excited to bring OTW and its technologies into our global sales and service network and to truly globalize this business. We welcome the OTW team into the Hardinge family and look forward to growing the product lines through our global platform.”
Hardinge acquired OTW from Artemis Capital Partners (“Artemis”), the Boston-based private equity firm focused on buying and building exceptional Industrial Tech companies. 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 capture growing demand in the global honing markets together with Hardinge. It’s a natural strategic fit and we are excited to cheer them on.”
About Hardinge
Hardinge, Inc. is the trusted global provider of high precision, computer-controlled machine tool solutions for critical, hard-to-machine metal parts and advanced workholding accessories. With over 125 years of experience, Hardinge offers the largest 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. 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. The company designs, manufactures, and distributes machine tools in over 65 countries across North America, Europe, and Asia. For more information about Hardinge, please visit: www.hardinge.com.
About OTW
Ohio Tool Works (OTW) is a leading manufacturer of industrial honing machines, tooling, and abrasives. Trusted by the world’s largest tubing and cylinder manufacturers, OTW designs and builds tailored honing solutions for a diverse and growing base of customers and applications across the global industrial, aerospace, defense, and metal working industries. For more information on Ohio Tool Works, please visit: www.ohiotoolworks.com.
About Artemis
Artemis is a specialized private equity firm focused on acquiring and partnering with differentiated Industrial Tech 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.
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SOURCE Hardinge Inc.
