Hyperion Materials & Technologies (Hyperion MT), a portfolio company of KKR and a world leader in the advanced development of hard to super hard materials for a variety of industries and applications, last week took over Italy’s Sinter Sud, which produces high quality tungsten carbide semi-finished products (see here the note from Sinter Sud, here the one from Hyperion and here the press release of the advisors).
The company was sold by its chairman and founder Antonio Suppa, who owned the company with a small management group that includes family members, who will continue to work as a consultant for the company after the transaction closes later in the year. The key leaders of Sinter Sud will retain their respective roles and report to the Hyperion organization. Carnelutti law firm assisted the selling shareholders in the transaction.
Founded in 1974, with registered office in Caserta and operational headquarters in Sant’Agata dei Goti (Benevento), Sinter Sud mainly produces cylinders in tungsten carbide (both full and with cooling holes) which will enrich and complement the Hyperion’s current offering. Sinter Sud closed 2020 with revenues of 14.8 million euros, an ebitda of 2.5 millions and a 5.3 millions in net debt (see Leanus’ analysis here).
Suppa said: “We share a vision to focus on service, innovation and growth as an unrivaled supplier to toolmakers.”
Ron Voigt, ceo of Hyperion, commented: “Sinter Sud has nearly 50 years of experience and has established a particularly strong presence in Europe, supplying carbide blanks for drilling and milling applications. Sinter Sud’s entry into the Hyperion group , which includes another carbide bar market leader such as AFC Hartmetall, expands our product portfolio and further expands our position as a global full service provider to toolmakers. The synergy we will be able to achieve both with Sinter Sud which with the German headquarters of AFC will greatly expand an already vast assortment of blanks “.
Hyperion, based in New Jersey, is a global supplier of products using cemented carbide, cubic boron nitride and synthetic diamond – high quality materials known for their hardness and toughness. Specifically, Hyperion’s role is to transform raw materials into tool components that are subsequently used and completed by manufacturers. The group also supplies finished gears or capital goods such as bearings or rotary cutters.
Hyperion MT was taken over by KKR in December 2017 from the Sandvik group (see here a previous article by BeBeez). The deal was carried out through the Americas XII fund.