Hillenbrand Closes on Another Acquisition
Batesville-based Hillenbrand Inc. (NYSE: HI) has completed the acquisition of a Pennsylvania manufacturer. Hillenbrand says the nearly $132 million deal for Red Valve Co. Inc. is in line with ongoing diversification efforts.
Red Valve products are used in municipal and industrial wastewater applications. It will be part of Hillenbrand’s Process Equipment Group, which also includes Germany-based ABEL Pumps. Hillenbrand acquired ABEL in October in a deal valued at more than $100 million.
Hillenbrand says the deals increase the global company’s presence in new markets that have "solid profitable growth potential within the flow control space." Red Valve bills itself as the world’s largest manufacturer of pinch valves.
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