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Idex closes acquisition of Abel Pumps


Idex closes acquisition of Abel Pumps
16 March 2021
Abel designs and manufactures highly engineered reciprocating positive displacement pumps for end markets including mining, marine, power, water, wastewater and other general industries. The company’s diaphragm and high-pressure piston pumps serve harsh, demanding applications involving abrasive or corrosive substances and fluids with high solids content.
Abel has an administration office and manufacturing plant in Büchen, Germany, and sales and service locations in Madrid, Spain and Pittsburgh, USA.
“We welcome Abel and its employees worldwide to the Idex family of businesses. We look forward to their expertise complementing the longstanding strength Idex has in pump and valve manufacturing,” said Idex CEO and president Eric Ashleman. ....

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Hillenbrand Completes Sale of ABEL Pumps to IDEX Corporation


Hillenbrand Completes Sale of ABEL Pumps to IDEX Corporation
- ABEL divestiture further streamlines portfolio and completes exit of flow control businesses
- Enables greater focus on platform businesses and growth opportunities
- Proceeds to be used to reduce leverage and reinvest in the business
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BATESVILLE, Ind., March 11, 2021 /PRNewswire/  Hillenbrand, Inc. (NYSE: HI) announced today that it has completed the sale of Abel Pumps, L.P., and certain of its affiliates (ABEL) to IDEX Corporation (NYSE: IEX). The sale closed in accordance with the terms of the Share and Interest Purchase and Transfer Agreement with IDEX that was announced on January 11, 2021, resulting in cash proceeds to Hillenbrand of approximately $103.5 million. ....

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Hillenbrand completes sale of subsidiary


(photo courtesy of Abel Pumps)
by: Alex Brown, Inside INdiana Business
Posted:
Mar 11, 2021 / 04:53 PM EST
BATESVILLE, Ind. (Inside INdiana Business) Batesville-based Hillenbrand Inc. (NYSE: HI) has completed the sale of its Abel Pumps LP subsidiary to IDEX Corp. (NYSE: IEX) in Pittsburgh. The deal was valued at more than $130 million. 
The sale was first announced in January. Hillenbrand says it plans to use the proceeds from the sale to reduce debt and “reinvest in organic growth opportunities.”
“The ABEL divestiture is an important step in our strategy to streamline our portfolio, increase financial flexibility, and accelerate growth,” Joe Raver, chief executive officer of Hillenbrand, said in a news release. “The completion of the ABEL sale will help drive shareholder value and strengthen our key business platforms.” ....

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