Hillenbrand, Inc. (NYSE: HI) has acquired Red Valve Company, Inc. for $131.9 million in cash, including $3.3 million for related real estate.

Based in Carnegie, Pa., Red Valve is a global leader in highly-engineered valves designed to operate in the harshest municipal and industrial wastewater environments. Its products support mission critical applications in water, power and mining and other general industrial markets. At the completion of the transaction, Red Valve will join Hillenbrand’s Process Equipment Group, which includes ABEL, a globally-recognized leader in positive displacement pumps.

During the trailing 12-month period ending on Nov. 30, 2015, Red Valve’s revenue was approximately $38.6 million, and its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was nearly $12.1 million, excluding $1.9 million in non-recurring expenses.

EC Mergers & Acquisitions acted as exclusive advisor to Red Valve on this transaction.