Hillenbrand to acquire Rotex
Dry material separation specialists Rotex to become part of Hillenbrand’s Process Equipment Group
HILLENBRAND Inc. have entered into a definitive agreement to acquire privately held Rotex Global LLC, a portfolio company of Windjammer Capital Investors, for US$240 million in cash, subject to certain closing and post-closing adjustments.
The acquisition is expected to be completed in late August, subject to regulatory approvals and other customary closing conditions. Based in Cincinnati, Ohio, Rotex are leading manufacturers of dry material separation machines and replacement parts and accessories used in a broad range of industries.
On completion of the transaction, Rotex will become the third business line under Hillenbrand’s Process Equipment Group. The two existing lines are K-Tron, which focuses primarily on feeding and pneumatic conveying equipment, and the Size Reduction Group, which concentrates on crushing equipment, conveying systems and screening equipment.
‘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.’