Businesses move forward as two separate entities equipped with strengthened financial foundations, positioned for future growth as global leaders in machine and workholding solutions

Global machining operations will do business as “Kellenberger”

Global workholding accessories operations will do business as “Forkardt Hardinge”

Hardinge Inc. and certain of its U.S. affiliated companies (collectively, “Hardinge” or the “Company”), a global leader and provider of advanced machine tool, manufacturing, and workholding solutions, today announced the successful completion of transactions pursuant to the United States Bankruptcy Code to sell substantially all of the Company’s global machine businesses and workholding businesses to affiliates of Centre Lane Partners ("Centre Lane"). Through the completion of the transactions, the global machine businesses and workholding businesses, respectively Kellenberger and Forkardt Hardinge, will move forward as separate entities under Centre Lane’s ownership with the necessary capital and operational flexibility to invest in growth and better serve their global customer bases.

Kellenberger and Forkardt Hardinge will be led respectively by Greg Knight, formerly CEO of Hardinge, and Ryan Ervin, formerly President of Forkardt Hardinge. Both Knight and Ervin are veteran executives in the industry and well-positioned to leverage their extensive knowledge to position each of the go-forward businesses for long-term success.

“We are very pleased to complete these transactions with Centre Lane, which position Kellenberger and Forkardt Hardinge for sustainable growth, enabling the businesses to continue providing customers with the market leading solutions they have come to expect,” said Knight. “We are grateful to Centre Lane for their strong partnership throughout this process and I look forward to being a part of Kellenberger’s continued success in my new role.”

“This milestone transaction provides Forkardt Hardinge with the financial foundation and operational flexibility to support future growth and investments,” said Ervin. “We thank Centre Lane for their strong support and look forward to seeing the continued momentum and innovation of our workholding solutions under the firm’s stewardship.”

“With right-sized capital structures, the go-forward Kellenberger and Forkardt Hardinge businesses are each well-positioned to reach new heights as worldwide leaders in machine and workholding solutions,” said Quinn Morgan, Managing Director at Centre Lane. “We thank Hardinge for its collaboration throughout the sale process and are focused on leveraging the strength of Kellenberger and Forkardt Hardinge to continue providing customers around the globe with best-in-class solutions.”

About Kellenberger

Kellenberger is a leading international provider of advanced metal-cutting solutions. The Company provides a full spectrum of highly reliable CNC turning, milling, and grinding machines.

The diverse products Kellenberger offers enables the Company to support a variety of market applications in industries including aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology, transportation and more.

Kellenberger has developed a strong global presence with manufacturing operations in North America, Europe, and Asia. Kellenberger applies its engineering and applications expertise to provide companies with the right machine tool solution and support every time.

About Forkardt Hardinge

Forkardt Hardinge has been a premiere global Workholding supplier for over 130 years. The Company’s comprehensive product portfolio enables it to provide solutions in every major industry and region. Forkardt Hardinge’s workforce is composed of dedicated engineers, who are experts across the full spectrum of products including collets, chucks, rotary tables, cylinders and accessories for both standard and engineered solutions.

Forkardt Hardinge’s customer first approach, coupled with industry leading quality and technology, makes the Company an ideal partner for manufacturing solutions. Through continued innovation, Forkardt Hardinge brings advancements in workholding technology that is trusted by small and large machining professionals around the globe.

About Centre Lane Partners

Founded in 2007, Centre Lane Partners is a private investment firm that invests in the equity and debt of middle market companies in North America. Centre Lane employs a flexible strategy that approaches complex situations with a solutions orientation. Centre Lane has an experienced, collaborative and diverse team, and seeks to partner with strong management teams that can benefit from patient, long-term capital and Centre Lane's operational, financial and strategic expertise and support.

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