Hyperion Materials to launch $50 million add-on term loan Wednesday

By Sara Rosenberg

New York, Nov. 9 – Hyperion Materials & Technologies will hold a lender call on Wednesday to launch a fungible $50 million add-on covenant-lite first-lien term loan due 2028, according to a market source.

UBS Investment Bank and KKR Capital Markets are the lead arrangers on the deal.

Proceeds will be used to fund the acquisition of Aggressive Grinding Service, a Pennsylvania-based precision carbide and ceramic grinding company.

Hyperion Materials, a portfolio company of KKR, is a Worthington, Ohio-based materials science company that develops hard and super-hard materials for a wide range of industries and applications.

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