Hillenbrand to buy Cincinnati business for $240M

Back to TopCommentsE-mailPrintBookmark and Share

Batesville-based Hillenbrand Inc., known for its casket business, has agreed to pay $240 million in cash to acquire a manufacturer of material-handling equipment.

Hillenbrand expects to close on its purchase of Cincinnati-based Rotex Global LLC from California-based Windjammer Capital Investors later this month. Rotex makes dry material separation machines.

The acquisition continues Hillenbrand’s strategy of diversifying its business into products outside its “death care products” mainstay. That strategy was launched in January 2010 when Hillenbrand agreed to pay $435 million for New Jersey-based K-Tron International, which makes equipment used in the plastics, food, chemical, drug, mining, paper and wood industries.

During the first six months of this year, the K-Tron division accounted for 25 percent of Hillenbrand’s revenue and 19 percent of its earnings before interest, taxes, depreciation and amortization, or EBITDA. K-Tron had revenue through the first half of the year of $109 million and EBITDA of $23 million.

Over the past 12 months, Rotex had revenue of $90 million and EBITDA of $24 million.

“ROTEX is a well-respected international company that focuses on high-quality manufacturing, has enduring customer relationships and generates strong cash flow–all of which are key attributes for any company joining Hillenbrand, Inc.,” Hillenbrand CEO Kenneth Camp said in a prepared statement.

He added that Rotex has been working to grow in Europe and Asia, which will help Hillenbrand expand all its material-handling businesses in those markets.



Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?