Artemis Capital Partners has led the recapitalization of Ohio Tool Works Corp., a manufacturer of industrial honing machines, tooling and abrasives. Headquartered in Ashland, OH, OTW designs and builds both standard and custom honing products for a diverse and growing base of customers across the global oil and gas, industrial, aerospace and metalworking industries.
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OTW’s executive management team will continue as owners and operators of the business.
“We are delighted to partner with the OTW team to build upon these growth efforts and take the company to the next level,” said Peter Hunter, managing director at Artemis.
“We are excited about our partnership with Artemis. By adding Artemis’s strategic and operational expertise, we feel we are poised to systematically address a growing number of end markets, applications, and opportunities,” John Hovsepian, president of OTW, said. “Our customers can count on a seamless transition and our steadfast focus on quality, innovation, and service.”
Ohio Tool Works operates a 50,000-square-foot manufacturing facility in Ashland, OH, with sales offices in Houston and expanding distribution channels worldwide.