I had to work out a solution to a similar problem a number of years ago. The plant had two rs232 devices already, but wanted to add 20 or so more due to growth (good problem to have). I wanted a different comms option on the device besides RS232, but these were 'cheaper' and they already had some, so they could buy less when they ramped up. Project Manager was all about 'minimum'.
I proposed several of these:
http://www.sealevel.com/store/seria...ethernet-to-16-port-rs-232-serial-server.html
as a starting point, but it's $1K for 16 ports. So none of this will be cheap.
Another option was these:
http://www.kksystems.com/din-rail-converters/interface-converters/kd485-ade.html
That convert addressable RS485, which would be multidrop, to RS232. But this is not cheap either, if you need one per rs232 port.
I ended up getting the more expensive devices with RS485 comms capability instead of the standard RS232, so did not deploy either of these solutions.
I kind of like the idea of a small controller at each device. Maybe something really cheap like this gear:
http://www.triplc.com/superplc.htm
But the installed cost is much more than the purchase price. Need some type of enclosure, cable sets, power supplies, whatever. Even if you do the addressable rs232 adapters, as some one pointed out, you may need local enclosures due to distance.
If I had to do it again I would probably try to get a device that handled a couple of serial ports and converted it to Ethernet with a fieldbus - not just Ethernet, but to be sure it had a fieldbus, like ModbusTCP, EtherNet/IP, whatever you need it to be. This will minimize complexity at the logic level and ease the integration into the system.