Lone Star Nears Deal to Buy Plastic Parts Maker Hillenbrand

Core Viewpoint - Lone Star Funds is in advanced discussions to acquire Hillenbrand Inc., a manufacturer of plastic parts and equipment, with a potential announcement expected soon [1][2]. Group 1: Acquisition Details - Lone Star Funds is reportedly close to finalizing a purchase of Hillenbrand, which is based in Batesville, Indiana, with shares closing at $26.49, giving the company a market value of approximately $1.87 billion [1][2]. - The acquisition discussions are ongoing and may face delays or complications, as indicated by sources familiar with the matter [2]. Group 2: Company Background - Hillenbrand specializes in producing plastic parts and equipment for various industries, including automotive, packaging, construction, and electronics, with notable clients such as Dow Inc. and General Mills Inc. [2]. - In recent years, Hillenbrand has focused on restructuring its portfolio to become a pure-play industrials company, which included selling its Batesville casket business in 2023 and acquiring Schenck Process Food and Performance Materials for approximately $730 million [3]. Group 3: Lone Star Funds Overview - Founded in the 1990s, Lone Star Funds operates globally in private equity, credit, and real estate, managing around $95 billion in assets [4].