Hills Holdings, maker of the iconic Hills Hoist clothesline, has continued to divest its manufacturing businesses, selling its LW Gemmell plumbing business and acquiring two healthcare companies.
AAP reports that Hills, based in Adelaide, proceeded to streamline its businesses by selling LW Gemmell to Zurn Industries for an undisclosed sum. This follows the company’s move to sell its Fielders and Orrcon steel businesses to BlueScope.
The two bolt-on acquisitions, on which $33.5 million was spent, are Merlon Healthcare Communications and HTR, which create communications systems and TV screens to hospitals.
The Australian notes that the acquisitions are a continuation of Hills’s shift away from manufacturing and towards a provider of technology solutions.
"This is the focus for us, moving to become a service provider in trusted environments," said Hills CEO Ted Pretty.