Ohio-based Hyperion Materials & Technologies, a materials science company developing advanced hard and super-hard materials, recently signed an agreement to purchase Elizabeth, Pa.-based Prism Technologies, a compaction tooling company.
Prism will become part of the Precision Solutions by Hyperion business unit. The unit provides custom solutions and components and includes global facilities that provide specialized finishing capabilities for tailored, high-quality wear components.
“Prism’s market leading expertise in the development of compaction tooling, as well as their experience in working with carbide, ceramics and other hard materials positions them as a strong complement to the Precision Solutions brand,” Ron Voigt, Hyperion CEO, said. “Their service orientation, consultative engineering and customer-focused approach has made them a go-to partner in this market, and we are looking forward to having them as part of our team.”
Prism President Richard Borkowski said, “We’re looking forward to bringing our custom press tooling experience and expertise to the Hyperion Materials & Technologies family of companies. Hyperion’s global footprint and reach across a wide range of industries will enable us to provide our products to a wider market as we fortify and accelerate the growth of the Precision Solutions brand.”
The transaction is expected to close this month, and is subject to customary closing conditions.