IDEX Corporation to Acquire Abel Pumps L.P.
IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Abel Pumps, L.P., and certain of its affiliates (ABEL) from Hillenbrand, Inc. (NYSE: HI) for cash consideration of $103.5 million, before closing adjustments.
- IDEX Corporation (NYSE:IEX) today announced that it has entered into a definitive agreement to acquire Abel Pumps, L.P., and certain of its affiliates (ABEL) from Hillenbrand, Inc. (NYSE: HI) for cash consideration of $103.5 million, before closing adjustments.
- 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 acquisition of ABEL will provide a complementary addition to the well-established expertise IDEX holds in pump manufacturing, IDEX Chief Executive Officer and President Eric Ashleman said.
- We foresee ABEL benefitting from joining a company with broad knowledge in pumps and valves and a focus on solving our customers toughest fluids challenges.