Hillenbrand to Sell ABEL Pumps to IDEX

Log In

Hillenbrand to Sell ABEL Pumps to IDEX

Manufacturer follows through on plans to exits ABEL business by unloading business to IDEX for $103.5 million.
On June 30, Batesville, Indiana-based Hillenbrand Inc. announced it has agreed to acquire Herbold Meckesheim GmbH. Herbold serves as a recycling systems specialist and is headquartered in Meckesheim, Germany. 

Hillenbrand Inc. (NYSE: HI), Batesville, Indiana, on Monday announced that it has agreed to sell Abel Pumps LP to IDEX Corp. (NYSE: IEX) for $103.5 million. The sale follows Hillenbrand’s previously announced intent to exit the ABEL business and is expected to be completed in Hillenbrand’s second fiscal quarter.

“We are pleased to announce that we have reached an agreement to sell ABEL, which is a key part of our ability to drive shareholder value and strengthen our key business platforms,” said Joe Raver, president and CEO of Hillenbrand. “The divestiture of ABEL follows the recent sale of Red Valve and, together, furthers the execution of our strategy to streamline our portfolio, increase financial flexibility, and accelerate growth.”

Hillenbrand said it intends to use proceeds from the sale to “reduce leverage and reinvest in organic growth and profitability opportunities.”

Delphi Advisors served as Hillenbrand’s financial adviser on the divestiture.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.