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Hillenbrand Completes Sale of ABEL Pumps to IDEX Corporation
- ABEL divestiture further streamlines portfolio and completes exit of flow control businesses
- Enables greater focus on platform businesses and growth opportunities
- Proceeds to be used to reduce leverage and reinvest in the business
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BATESVILLE, Ind., March 11, 2021 /PRNewswire/ Hillenbrand, Inc. (NYSE: HI) announced today that it has completed the sale of Abel Pumps, L.P., and certain of its affiliates (ABEL) to IDEX Corporation (NYSE: IEX). The sale closed in accordance with the terms of the Share and Interest Purchase and Transfer Agreement with IDEX that was announced on January 11, 2021, resulting in cash proceeds to Hillenbrand of approximately $103.5 million.