Hillenbrand enters acquisition agreement with Lone Star Funds, valued at $3.8 billion

Hillenbrand Inc. announced Oct. 15 that the company has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds, in an all-cash transaction valued at approximately $3.8 billion. 

Hillenbrand, based in Batesville, Ind., is a manufacturer of processing equipment and solutions. Its plastics processing technology brands include Mold-Masters, DME, Tirad, Herbold Meckesheim and Coperion. Earlier this year, Hillenbrand sold a 51 percent ownership stake in injection molding machine maker Milacron to an affiliate of Bain Capital for $287 million.  

“Over the past several years, Hillenbrand has made tremendous progress transforming into a pure-play industrial company, reshaping our portfolio, and making strategic investments in the business,” said Kim Ryan, president and CEO of Hillenbrand. “Lone Star recognizes this progress and sees a bright future, given our successful leading businesses and strong teams. We look forward to working with Lone Star to enhance our scale, create opportunities for our associates, and continue to drive growth and innovation within the durable plastics, food and recycling end markets.” 

“We are excited to partner with Hillenbrand, a high-quality operator in the industrial equipment sector,” Lone Star CEO Donald Quintin said. “Lone Star is fortunate to have a long track record in related industrial manufacturing, and our expertise will be brought to bear in partnering with Hillenbrand's management team to invest in the business and help foster continued growth and innovation at the company. We are honored to be the partners to take the Hillenbrand name and dedicated team into the next chapter of success.” 

The transaction, at $32 per share, is expected to close by the end of the first quarter of 2026, at which point Hillenbrand will become a privately held company and its shares will no longer trade on the New York Stock Exchange.