BATESVILLE, Ind. (WOWO) – Hillenbrand Inc., one of Indiana’s largest public companies, is set to go private after agreeing to a $3.8 billion all-cash acquisition by Dallas-based Lone Star Funds.
The Batesville-headquartered industrial manufacturer announced the deal Wednesday, saying the transaction will see shareholders receive $32 per share and Hillenbrand delist from the New York Stock Exchange.
Hillenbrand employs more than 10,000 people globally and generates over $3 billion in annual revenue through its Advanced Process Solutions and Molding Technology Solutions units. The company provides processing equipment and systems for industries like plastics, chemicals, automotive and packaging.
“This move marks the next phase in our transformation,” said CEO Kim Ryan in a release. “Lone Star recognizes the progress we’ve made in becoming a pure-play industrial company and sees real opportunity in our future.”
The acquisition comes after years of strategic reshaping. In 2022, Hillenbrand sold its Batesville Casket Company for more than $760 million, and earlier this year, offloaded a majority stake in its Milacron molding business. It also initiated a restructuring program that included workforce reductions in 2024.
Board Chair Helen Cornell said the company reviewed “a range of strategic alternatives” before determining Lone Star’s offer was in shareholders’ best interest.
Inside Indiana Business reports that pending regulatory and shareholder approval, the deal is expected to close by the end of Q1 2026. Once finalized, Hillenbrand will operate as a privately held company.
Lone Star CEO Donald Quintin said his firm looks forward to supporting Hillenbrand’s growth. “We see strong potential to scale the business and invest in continued innovation,” he said.
Hillenbrand says it will release its Q4 and full-year earnings on Nov. 19 but won’t hold a call or provide financial guidance for fiscal 2026 due to the pending transaction.
