DeZURIK Inc. has acquired Red Valve, a maker of elastomers, pinch valves, check valves, and engineered mixing systems.
The acquisition was effective Jan. 1.
Besides its own brand, Red Valve also offers Tideflex in its current portfolio. DeZURIK manufactures valves for municipal and industrial fluid-control applications. DeZURIK, headquartered in Sartell, Minnesota, has manufacturing facilities in Cambridge, Ontario; Redmond, Washington; Houston, Texas; and Gastonia, North Carolina.
DeZURIK bought Red Valve from Hillenbrand Inc., of Batesville, Indiana. DeZURIK previously acquired APCO and Willamette in 2011 and HILTON Valve in 2012.
According to a report on PR Newswire, “Hillenbrand entered into a stock purchase agreement with DeZURIK, pursuant to which DeZURIK acquired Red Valve on Dec. 31, 2020, at an enterprise value of $63 million, subject to customary post-closing adjustments. The purchase price included a $58 million cash payment at closing and a $5 million note payable.”