P&M Corporate Finance, LLC (PMCF) is pleased to announce that Hillenbrand, Inc. (NYSE: HI) has acquired ROTEX Global, LLC (ROTEX) for $240 million in cash from Windjammer Capital Investors. PMCF served as Hillenbrand’s exclusive financial advisor in the transaction and also provided the company with a fairness opinion.
Based in Cincinnati, Ohio, ROTEX is a pioneer and global leader in the development of screening equipment and technology for a broad range of process industries. With an established reputation that dates back more than 165 years, ROTEX has grown to become a highly respected international manufacturing company. The acquisition of ROTEX represents an important achievement in the ongoing execution of Hillenbrand’s global growth strategy.
“ROTEX products complement both 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. “P&M Corporate Finance was an effective partner with us in all aspects of finding, negotiating and executing this transaction.”
This is the second transaction for which PMCF has advised Hillenbrand. In April 2010, Hillenbrand acquired K-Tron International, a leading global process equipment manufacturer, for $435 million. Having established the K-Tron platform in 2010, Hillenbrand and PMCF continued to work closely together to find companies that exhibited attractive growth characteristics in adjacent applications and markets. In conjunction with Hillenbrand, PMCF identified ROTEX as part of a continuing comprehensive search process that already has identified more than 700 companies across primarily Europe, Asia and North America.
“PMCF is pleased to have advised Hillenbrand on this second important transaction,” said Scott George, managing director of PMCF. “The acquisition of ROTEX provides Hillenbrand with an exceptional company and a superior management team, both of which support its ongoing strategy of becoming a global, diversified industrial company. We are very proud of our relationship with Hillenbrand and look forward to additional opportunities to work with them in the future.”
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