Delphi Advisors advised Hillenbrand, Inc., (NYSE:HI) a global diversified industrial company with FY2020 $2.5bn revenue and 11,000 employees, on the divestiture of its German based subsidiary Abel GmbH to IDEX Corporation (NYSE: IEX), at an enterprise value of $103.5m.
ABEL designs and manufactures highly engineered reciprocating positive displacement pumps for a variety of 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. Besides its headquarters in Büchen, Germany, ABEL has further sales and service locations in Spain and the US.
As a result of the divestiture, Hillenbrand continues to enhance overall shareholder value and increased financial flexibility, while streamlining its portfolio and placing greater focus on platform businesses and growth opportunities.
With the second Hillenbrand flow control divestiture completed, shortly following Red Valve and run as simultaneous processes, Delphi Advisors again underpins its core competencies by successfully executing a time constrained competitive, cross border M&A carve-out process of a niche industrial manufacturing business from a North American listed corporate.