Based in Buchen, Germany, Abel specialises in diaphragm and piston pumps primarily for the power generation, wastewater treatment, mining, general industry, oil and gas and marine markets. The company was founded in 1947 and was acquired by Roper in 2000.
For the year ended 31 July 2015, Abel had revenue of approximately €30 million, and earnings before interest, taxes, depreciation and amortization (EBITDA) of around €8 million.
Hillenbrand, which is listed on the New York Stock Exchange, has two business segments: the Process Equipment Group which includes businesses that design, develop, manufacture and service engineered industrial equipment; and Batesville which operates in the North American death care industry.
Abel will become part of Hillenbrand’s Process Equipment Group which already includes Coperion, a provider of compounding systems, feeding technology, bulk materials handling systems and services; Rotex, a developer of screening equipment; and TerraSource Global, a producer of size reduction equipment.
“The acquisition of Abel demonstrates our continued commitment to growing as a world-class global diversified industrial company,” said Joe Raver, president and CEO of Hillenbrand. “Abel is a strong fit within our Process Equipment Group segment and provides us an entry point into the attractive flow control market.”
“This is a great opportunity for Abel,” said Christian Dietl, president of Abel. “Hillenbrand has a clear strategic vision, and the management practices they bring will help us continue to deliver strong results. We look forward to working with this management team as we join the Hillenbrand portfolio."
