Hyperion Materials & Technologies Inc., a materials science company headquartered in Worthington, Ohio, USA, reports that is has signed an agreement to acquire Arno Friedrichs Hartmetall GmbH & Co. KG (AFH), Mainleus, Germany, and its affiliates, a supplier of cemented carbide blanks used in the manufacture of high-precision rotary cutting tools for drilling and milling applications.
The company states that at the close of the transaction, Arno Friedrichs, the company’s founder, will step down as CEO and join the Board of Directors of Hyperion, where he will contribute to the development of the combined business with his industry knowledge and expertise. Ralf Greifzu, AFC Executive, has led global sales at the company for seven years, and will reportedly replace Friedrichs as VP and General Manager of AFC.
Ron Voigt, CEO of Hyperion, stated, “We are thrilled to combine AFC’s leading innovation capabilities and differentiated manufacturing processes with Hyperion’s deep application expertise and materials science capabilities.”
“AFC is a premier producer of cemented carbide rotary tool blanks with an exceptionally talented workforce and a great reputation for supporting their customers and addressing their most challenging needs,” he continued. “In combining the talent and capabilities of both companies, we will be able to enhance our product offering through customer-focused innovation and provide even greater value to our customers.”
“It is with great pleasure that I announce our partnership with Hyperion,” commented Arno Friedrichs, founder of AFC. “Given our shared focus on providing best-in-class products to finished tool manufacturers, this partnership is a perfect fit. The combination will strengthen both companies and support AFC’s continued development.”
The transaction is expected to close in the fourth quarter of 2019.