(Batesville, Ind.) - Batesville-based Hillenbrand, Inc. continues to diversify with its latest acquisition of a Cincinnati manufacturing company.
Hillenbrand announced Friday it will pay $240 million to acquire Rotex Global, Inc.
According to a company press release, Rotex is a leading manufacturer of dry material separation machines and replacement parts and accessories used in a broad range of domestic and international industries.
Hillenbrand says the agreement is definitive and could close later this month.
Rotex becomes Hillenbrand’s third line of business in their process equipment group.
"ROTEX products complement both existing Process Equipment Group business lines, while giving us additional reach into new high-growth applications and geographies," said Kenneth A. Camp, Hillenbrand's president and chief executive officer. "In addition, the ROTEX global growth strategy allows us to leverage our existing plans for the Process Equipment Group's expansion, particularly in Europe and Asia."