Hyperion Materials & Technologies signs agreement to acquire Aggressive Grinding Service
WORTHINGTON, Ohio — Hyperion Materials & Technologies, a leading global materials science company that develops hard and super-hard materials for a wide range of industries and applications, announced today it has signed an agreement to acquire Aggressive Grinding Service (AGS), a Pennsylvania-based precision carbide and ceramic grinding business.
"Bringing AGS into the Hyperion Materials & Technologies family enhances the value and service we can provide our North American customers in high-value markets and critical industries," said Ron Voigt, Chief Executive Officer of Hyperion. "AGS has been a business partner of ours for years and is well regarded for its quality work and consistent, fast delivery times. We are thrilled to bring AGS's capabilities in-house and work together to expand our portfolio, streamline our workflow process and further improve our responsiveness while remaining a non-rival supplier to our customers."
AGS, founded in 1988 and located about 45 miles east of Pittsburgh in Latrobe, provides broad and specialized grinding and machining capabilities, including surface, centerless, outside diameter (OD) and peel grinding, as well as wire electrical discharge machining (EDM) and wheel dressing services. The company employs about 90 associates who operate the latest in advanced grinding and machining equipment.
AGS will enhance Hyperion's capabilities and leadership in multiple high growth markets, including custom and preform carbide rod blanks for drilling and end milling tools and finished wear-resistant components, such as can tooling for the metal packaging industry.
"As a one-stop shop and global leader in grinding services, we are thrilled about the opportunity to serve a wider variety of customers across a larger geographic footprint," said Lester Sutton, founder of AGS. "Our focus on quality, delivery, continuous improvement, innovation, and, most importantly, a skilled and engaged workforce, aligns with Hyperion's mission to apply materials science, engineering and manufacturing expertise to position customers to win."
Closing of the transaction is expected later this quarter subject to completion of customary closing conditions. Key business leaders at AGS will remain in place and report into the Hyperion organization.