Prairie Represents Crafts Technology in its Sale to Hyperion Materials & Technologies
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OAKBROOK TERRACE, Ill. - illiNews -- Prairie Capital Advisors, Inc. ("Prairie") is pleased to announce Crafts Technology ("Crafts" or the "Company") has been acquired by Hyperion Materials & Technologies ("Hyperion"), a portfolio company of KKR. Prairie acted as exclusive financial advisor in this transaction to Crafts and its shareholders and was led by Anthony Dolan of Prairie. Terms of the transaction were not disclosed.

With a history dating back to 1860, Crafts Technology strives to deliver the most advanced systems and tooling that continually enhance the utilization & performance of industrial equipment. Headquartered in Elk Grove Village, Illinois, Crafts offers decades of experience in developing products that demand super-hard materials in order to achieve maximum wear life, corrosion resistance and optimal performance for each application. The Company is dedicated to quality, innovation and solutions that translate to the success of its clients.

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Headquartered in Worthington, Ohio, Hyperion has been a standalone company since 2018. The Company is a global leader in advanced materials with decades of experience developing and manufacturing tungsten carbide powders, cemented carbide, synthetic diamond and cubic boron nitride products. With more than 1,600 employees worldwide, Hyperion is committed to creating solutions for the hard and super-hard material needs of its clients through partnership and innovation.

"Throughout the entire process, Prairie's contributions and efforts guided Crafts to an optimal outcome for the Company and its stakeholders," said Crafts CEO Jeffrey Taylor. "The professionals at Prairie appreciated what was important to the shareholders of Crafts and effectively managed the transaction process to a successful completion," he added. "We are pleased to have advised Crafts on this transaction. We believe that the Company's engineering expertise and manufacturing capabilities will enhance Hyperion's capabilities as well as contribute to Hyperion's continued growth as a leading manufacturer of advanced materials," said Anthony Dolan, Director at Prairie. "This transaction represents another successful assignment completed by Prairie's Investment Banking group as buyers become more and more comfortable acquiring ESOP companies by surrounding themselves with the right advisors to help ensure a successful outcome," he added.

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About Prairie Capital Advisors

Prairie offers investment banking, ESOP advisory, valuation advisory and financial reporting valuations to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. Prairie was named the 2020 Valuations & Fairness Opinions Advisor of the Year by M&A Atlas. For more information, visit www.prairiecap.com.