AZB & Partners Advises Hyperion Materials on Electronica Tungsten Acquisition
AZB & Partners has advised Hyperion Materials & Technologies, Inc. on its acquisition of the entire share capital of Electronica Tungsten Limited (“ETL”), marking a significant cross-border inbound deal in India’s advanced materials sector. The AZB Partners–Hyperion–Electronica Tungsten acquisition brings together a global hard-materials leader and one of India’s established tungsten carbide manufacturers. The deal was announced on 16 March 2026 via GlobeNewswire.
Introduction
Hyperion Materials & Technologies, a leading global materials science company specialising in advanced hard and super-hard materials, agreed to acquire Electronica Tungsten Ltd from the Electronica Group. The transaction involved the purchase of ETL’s entire share capital, constituting a full buyout of the Nashik-based manufacturer. ETL specialises in the manufacture of tungsten carbide products for wear applications, metal cutting, and metal forming applications across oil and gas, mining, agriculture, and a wide range of other industries.
Electronica Tungsten Ltd was created in 2016 through a merger of manufacturing companies within the broader SRP Electronica Group in Nashik — a diversified industrial and engineering conglomerate with businesses across EDM machine manufacturing, tungsten carbide tooling, machine-tool trading, and CNC sheet metal fabrication. The acquisition was expected to be completed by the end of Q1 2026, subject to customary regulatory approvals and pre-closing conditions.
Legal Teams Involved
AZB & Partners acted as legal counsel to Hyperion Materials & Technologies, Inc. (the acquirer). No other legal team was disclosed in the available information.
Deal Team:
- Nandish Vyas — Senior Partner
- Anshuman Bharadwaj — Partner
- Shreshth Bhartia — Senior Associate
- Janhavi Rajkumar — Associate
- Ria Doshi — Associate
Due Diligence Team:
- Ruchit Parikh — Partner
- Nishanth Ravindran — Partner
- Jay Shah — Senior Associate
- Rohan Puskur — Senior Associate
- Ankit Dutta — Senior Associate
- Rhea Ghanshani — Senior Associate
- Priya Venkatesan — Senior Associate
- Kinjal Parikh — Associate
- Anmol Lilani — Associate
- Avani Laad — Associate
- Tamanna . — Associate
- Yashaswini Santuka — Associate
- Urmi G. — Associate
- Rishav Sen — Associate
Legal representation for ETL and the Electronica Group was not disclosed.
Significance and Impact
Electronica Tungsten brings a uniquely vertically integrated tungsten platform in India, spanning upstream conversion of mined tungsten ore concentrates into tungsten carbide and ready-to-press powders, as well as closed-loop recycling of both hard and soft tungsten scrap. This makes ETL a strategically differentiated target — not merely a manufacturer but a full-cycle tungsten platform. The acquisition provides Hyperion with new capabilities to better serve customers in the Asia-Pacific region and strengthens its sustainability efforts through enhanced tungsten recycling.
ETL operates four state-of-the-art manufacturing facilities with the ability to produce highly complex oil and gas wear products and other carbide solutions. For the Indian legal market, the deal underscores the depth of cross-practice M&A mandates — requiring a large, multi-partner due diligence team alongside a dedicated transactional squad, both fielded by AZB & Partners. For deal tracking and benchmarks, see the Deal Meter.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. It is based on the details provided and publicly available sources.
