Hillenbrand Closes Batesville Divestiture; Completes Company’s Transformation

  • Hillenbrand is well-positioned to accelerate long-term growth with a focus on key end markets including durable plastics, food, and recycling
  • Company continues to build upon its strength in industrial processing expertise and highly-engineered equipment and systems, particularly following the strategic acquisitions of LINXIS Group, Peerless Food Equipment, Gabler Engineering, and Herbold Meckesheim

BATESVILLE, Ind., Feb. 1, 2023 /PRNewswire/ — Hillenbrand, Inc. (NYSE: HI) announced today that it has completed its transformation into a pure-play industrial company with the closing of the sale of its Batesville business segment to an affiliate of private investment firm LongRange Capital for $761.5 million, subject to agreed closing adjustments, which includes an $11.5 million subordinated note.

“Over the last 12 months, we have been laser-focused on creating shareholder value by accelerating our transformation into a pure-play industrial company,” said Kim Ryan, President and Chief Executive Officer of Hillenbrand. “The completion of this transaction is a defining moment in Hillenbrand’s journey and allows us to concentrate our investments where we see strong growth potential, including durable plastics, food, and recycling. Our highly-engineered equipment and systems, our process expertise, and our industry-leading brands position us for compelling long-term growth.”

Following customary closing adjustments, the Company expects after tax net proceeds of approximately $530 million, which it plans to use for existing debt reduction. Hillenbrand will remain headquartered in Batesville, Indiana.

About Hillenbrand

Hillenbrand (NYSE: HI) is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. To learn more, visit: www.Hillenbrand.com.

Forward Looking Statements

Throughout this release, we make a number of “forward-looking statements” that are within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and that are intended to be covered by the safe harbor provided under these sections. As the words imply, these are statements about future sales, earnings, cash flow, results of operations, uses of cash, financings, share repurchases, ability to meet deleveraging goals, and other measures of financial performance or potential future plans or events, strategies, objectives, beliefs, prospects, assumptions, expectations, and projected costs or savings or transactions of the Company that might or might not happen in the future, as contrasted with historical information. Forward-looking statements are based on assumptions that we believe are reasonable, but by their very nature are subject to a wide range of risks. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand’s expectations and projections.

Words that could indicate that we are making forward-looking statements include the following:



























This is not an exhaustive list, but is intended to give you an idea of how we try to identify forward-looking statements. The absence of any of these words, however, does not mean that the statement is not forward-looking.

Here is the key point:  Forward-looking statements are not guarantees of future performance or events, and actual results or events could differ materially from those set forth in any forward-looking statements.  Any number of factors, many of which are beyond our control, could cause our performance to differ significantly from what is described in the forward-looking statements. These factors include, but are not limited to: global market and economic conditions, including those related to the financial markets; the impact of contagious diseases, such as the COVID-19 pandemic and the escalation thereof due to variant strains of the virus and the societal, governmental, and individual responses thereto, including supply chain disruptions, loss of…

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