Feb 2 2016
Hillenbrand, Inc. (NYSE: HI) has completed its previously announced acquisition of Red Valve Company, Inc. for a purchase price of $131.9 million in cash, including $3.3 million for related real estate.
Based in Carnegie, Pa., Red Valve is a global leader in highly-engineered valves designed to operate in the harshest municipal and industrial wastewater environments. Its products support mission critical applications in water, power and mining and other general industrial markets. Red Valve joins Hillenbrand's Process Equipment Group, which includes ABEL, a globally-recognized leader in positive displacement pumps.
This acquisition advances Hillenbrand's strategy to transform into a world-class global diversified industrial company. Red Valve complements Hillenbrand's recent ABEL acquisition, increasing the company's ability to expand into new end markets and geographies that have solid profitable growth potential within the flow control space.
SOURCE Hillenbrand, Inc.