The transaction is expected to close in the first quarter of 2023.
(Batesville, Ind.) – Hillenbrand, Inc. is selling Batesville Casket Company.
The company announced today that it has entered into a definitive agreement to sell its Batesville business segment to an affiliate of private equity firm, LongRange Capital.
The sale is for $761.5 million, which includes an $11.5 million sub-note.
The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.
Upon completion of the sale, Hillenbrand and Batesville Casket will both remain headquartered in Batesville.
“Completing our transformation into a pure-play industrial company allows Hillenbrand to concentrate our investments into our APS and MTS segments, where we see strong growth potential,” said Kim Ryan, President and Chief Executive Officer of Hillenbrand. “We look forward to building upon our track record of performance, enabled by consistent deployment of the Hillenbrand Operating Model to drive profitable growth and deliver long-term value to our shareholders.”
For more information, visit https://www.hillenbrand.com/corporate-news.
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