Hardinge Inc. and Ohio Tool Works LLC, have completed a definitive agreement under which Hardinge has acquired OTW, expanding Hardinge’s machine tool and workholding offerings with a portfolio of high precision honing machines, tooling and abrasives. Hardinge acquired OTW from Artemis Capital Partners, a Boston-based private equity firm focused on buying and building industrial tech companies.
“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.”
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.”