Hillenbrand to use revolver borrowings to fund Red Valve acquisition

By Tali Rackner

Norfolk, Va., Dec. 22 – Hillenbrand, Inc. plans to use cash available under its revolving credit facility and cash on hand to fund its acquisition of Red Valve Co., Inc., according to a press release.

The $131.9 million purchase is expected to close within 30 days.

Hillenbrand is a diversified industrial company based in Batesville, Ind., that makes and sells business-to-business products. Red Valve is a manufacturer of pinch valves and Tideflex Check Valves.

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