MasterWorks and Helman Tensioners specialise in providing design and manufacturing solutions for the composites industry. Hexagon Composites says that this acquisition enhances its technology leadership and manufacturing robustness, and will provide additional capabilities for further expansions.
The agreed transaction value is US$ 1.7 million. The transaction has effect as of 10 October 2014.
Located in Maryland on the US East Coast, MasterWorks has 29 employees.
The business will operate under a newly formed entity, MasterWorks, Inc., as a wholly owned subsidiary of Hexagon Lincoln.