Hillenbrand Inc. is set to be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $32.00 per share. This equates to an enterprise value of around $3.8 billion, representing a premium of around 37% over Hillenbrand’s unaffected closing share price on the 12th of August 2025, and a premium of 53% over the volume-weighted average price of Hillenbrand common stock for the 90 days ending 12th of August 2025.
Lone Star Funds
Lone Star acquires Hillenbrand for $32.00 per share
Hillenbrand specialises in highly engineered processing equipment and solutions that customers receive through its Advanced Process Solutions and Moulding Technology Solutions segments. Over the past three years, Hillenbrand has repositioned the business by expanding its industrial food equipment portfolio.
“We are pleased to reach this agreement with Lone Star, which delivers immediate and certain cash value to our shareholders at a substantial premium to recent trading, and positions Hillenbrand to continue meeting and exceeding customers’ needs for highly engineered, mission-critical processing equipment and solutions,” said Helen Cornell, Chairperson of the Board of Directors. “The Board carefully reviewed a range of potential strategic alternatives, including interest from a number of parties, and determined that this transaction is in the best interest of Hillenbrand and its shareholders.”
Kim Ryan, President and Chief Executive Officer of Hillenbrand, added, “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. Lone Star recognises 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,” concluded Donald Quintin, Chief Executive Officer of Lone Star. “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 honoured to be the partners to take the Hillenbrand name and dedicated team into the next chapter of success.”
The transaction was approved unanimously by the Hillenbrand Board of Directors, following the Board of Directors’ review of several strategic alternatives for the company. The transaction is expected to close by the end of the first quarter of 2026, after which Hillenbrand will become a privately held company.