KKR said it has finalised the acquisition of Hyperion from Sandvik. The transaction was funded through KKR’s Americas XII Fund and marks KKR’s first acquisition of a middle-market business in the industrials sector.
Effective upon the transaction close, Ron Voigt will assume the role of Chief Executive Officer of Hyperion, responsible for the strategic direction and operating performance of the company. Mr. Voigt succeeds Johan Israelsson, who is transitioning into a newly created role as Senior Vice President of Strategy and Alliances.
“I am honored to join the great team at Hyperion as CEO and to lead the company in partnership with KKR and the rest of Hyperion’s leadership team, with our objective remaining focused on providing outstanding support to our customers by optimizing the performance of the business,” said Mr. Voigt.
Mr. Voigt previously served as the President of X-Rite Pantone, an operating subsidiary of Danaher Corporation. While at X-Rite, he led a multi-year transformation utilizing lean principals which significantly improved operating performance across sales and marketing, manufacturing, supply chain, and product development. Mr. Voigt joined Danaher in 2009 and served in a number of other executive roles at both Kollmorgen and Tektronix before being tapped to lead X-Rite Pantone in 2013. Earlier in his career, he held positions of increasing responsibility at Delphi Automotive PLC.
Mr. Voigt will be based in Hyperion’s facility in Worthington, OH, which will become the company’s new global headquarters.
“Johan and his team have been incredible to work with throughout this process, and we look forward to continue working closely with them now that the transaction is complete. We are also thrilled to welcome Ron, a proven leader in the industrial sector, to the Hyperion team, to partner with us in implementing KKR’s broad-based employee engagement model at the company and to build Hyperion into an even stronger company than it is today,” said Pete Stavros, Member of KKR and Head of KKR’s Industrials investment team.