Batesville-based Hillenbrand Inc. (NYSE: HI) is growing its international footprint. The manufacturer has entered into an agreement to acquire ABEL Pumps LP in Germany in a deal valued at more than $100 million.
The deal calls for Hillenbrand to pay 95 million euros in cash. The company expects the deal, which is subject to regulatory approval and other closing conditions, to close within 30 days.
ABEL is based in Büchen, Germany. It makes piston pumps and provides related services. It sells to industries including power generation, wastewater treatment and mining. The company’s 2015 revenue reached approximately 30 million euros.
Hillenbrand Chief Executive Officer Joe Raver says the acquisition demonstrates the company’s "continued commitment to growing as a world-class global diversified industrial company." He says ABEL provides an entry point into "the attractive flow control market."