Hillenbrand Announces Agreement to Be Acquired by Lone Star for $32.00 Per Share

Core Viewpoint - Hillenbrand, Inc. has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds for $32.00 per share, resulting in an enterprise value of approximately $3.8 billion [1][2]. Transaction Details - The purchase price represents a premium of approximately 37% over Hillenbrand's unaffected closing share price on August 12, 2025, and a premium of 53% over the volume weighted average price (VWAP) for the 90 days ending August 12, 2025 [2]. - The transaction is expected to close by the end of the first quarter of calendar year 2026, subject to customary closing conditions, including shareholder approval and regulatory approvals [4]. Company Background - Hillenbrand provides highly-engineered processing equipment and solutions through its Advanced Process Solutions and Molding Technology Solutions segments, serving large end markets such as durable plastics, food, and recycling [2][9]. - The company has undergone significant transformation over the past few years, focusing on strategic acquisitions and divestitures to strengthen its portfolio [2][3]. Management Commentary - The Board of Directors of Hillenbrand unanimously approved the transaction, believing it to be in the best interest of the company and its shareholders [3]. - Management expressed confidence in the partnership with Lone Star, highlighting the potential for growth and innovation in the industrial equipment sector [3][10]. Advisors - Evercore is serving as financial advisor, while Skadden, Arps, Slate, Meagher & Flom LLP is providing legal counsel to Hillenbrand. Jefferies LLC and UBS Investment Bank are advising Lone Star, with Kirkland & Ellis as legal counsel [6].