Batesville-based Hillenbrand Inc. (NYSE: HI) has completed the acquisition of ABEL Pumps LP in Germany. The deal for the piston pump maker is valued at more than $100 million.
The deal calls for Hillenbrand to pay 95 million euros in cash. ABEL sells pumps to industries including power generation, mining and wastewater treatment. Its 2015 revenue was nearly 30 million euros.
Hillenbrand Chief Executive Officer Joe Raver says the deal advances the company’s growth strategy and provides entry into the flow control market.