Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Round end shell design. When completed, this divestiture, coupled with the strategic acquisitionsof LINXIS Group, Herbold Meckesheim, Peerless Food Equipment, and Gabler Engineering in 2022, will mark a significant milestone in Hillenbrand's transformation, establishing Hillenbrand as a global industrial leader in highly engineered, mission-critical processing solutions. Will fit into a standard outer burial container. Batesville plus size Stainless Steel Oversize Casket w/ Silver Velvet Interior. "As longer-term oriented investors with an operational focus and significant carve-out experience, we look forward to partnering with the Batesville management team and its dedicated associates in further supporting the business for many years to come," said Bob Berlin, Managing Partner at LongRange. Historical and current end-of-day data provided by FACTSET. Today, HI is a $3.3 billion Market Cap company, with a $4.1 billion EV. Otherwise it is a great place to work. Hillenbrand Inc. said Thursday that it has reached an agreement to sell its Batesville Casket Co. subsidiary the largest producer of caskets in the U.S. to an affiliate of a Connecticut-based private equity firm for $761.5 million. -- Hillenbrand Inc. said Thursday that it has reached an agreement to sell its Batesville Casket Co. subsidiary the largest producer of caskets in the U.S. to an affiliate of a Connecticut-based private equity firm for $761.5 million. 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Batesville Casket Co Inc - Company Profile and News - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information, people. Editor's note: You can comment on IBJ stories by signing in to your IBJ account. They will likely not be stewards of the city as the Hillenbrand company has admirably been for decades. With industry-leading brands in its Advanced Process Solutions (APS) and Molding Technology Solutions (MTS) segments, Hillenbrand is well-positioned to accelerate long-term growth in attractive end markets including plastics, food, and recycling, all of which are expected to benefit from secular macroeconomic growth trends. Presence. After thorough review, it was determined that the divestiture of the Batesville business is in the best interests of Hillenbrand and its shareholders. Gemini Monarch Blue Casket with Blue Crepe Interior- Metal Casket . Finally, the management are no strangers to value creation from Spinoffs. Greenberg Traurig, LLP acted as legal counsel to LongRange. Thats not to say that there arent many problems with the city. batesville casket company stock includes essentials like mortuary equipment, funeral equipment, and even some affordable options . STAMFORD, Conn., December 15, 2022--(BUSINESS WIRE)--LongRange Capital ("LongRange"), a private investment firm with a longer-term orientation to building and growing middle market businesses, announced that it has entered into a definitive agreement to acquire Batesville Casket Company ("Batesville"), a leading provider of quality death care products and services as well as innovative technology solutions. The ladies in the front office are very helpful. The absence of any of these words, however, does not mean that the statement is not forward-looking. One company that came across our radar two years ago was Hilllenbrand (HI), currently trading at $45 a share. All rights reserved. We make the industrial equipment that molds possibilities for our future and delivers what's essential to sustain our tomorrow. Credit Suisse served as lead financial advisor to LongRange Capital and TD Securities also served as financial advisor. Debt financing for the transaction is being led by TD Securities, who is acting as Joint Lead Arranger, Joint Bookrunner and Administrative Agent, along with Joint Lead Arrangers and Joint Bookrunners JPMorgan Chase Bank, N.A. View Products For Families Find grief support and guidance on planning a funeral. Likewise, HIs debt at the time was around 4x and would have presented a challenging split. If you have not registered, please sign up for a free account now. In March 2020, HI was a $1.4 billion Market Cap ($3.1 billion EV) company. Matthews International It is a broker that is regulated by the Securities and Exchange Commission. It is a broker that is regulated by the Securities and Exchange Commission. We help families honor the lives of those they love in everything we do, from our products and services to our deep connections and partnerships with the funeral industry. The companys announcement provided no guidance on what impact the sale might have on Batesville Casket Co., its employees or its holdings in southeastern Indiana. Theranoss Elizabeth Holmes gives birth to second baby, pushes to delay starting her 11-year prison term, Elon Musks bid to implant chips into human brains shot down by FDA, Hillenbrand credit cut to BB+, or 'junk' territory, at Fitch, Hillenbrand's stock tumbles 12.5% premarket after $2 bln cash and stock deal to buy Milacron, Milacron's stock soars 26% premarket after Hillenbrand buyout deal, Hillenbrand to buy Milacron in a cash and stock deal valued at $2 bln. Hillenbrand (NYSE: HI) is a global industrial company operating in over 40 countries with over 10,000 associates serving a wide variety of industries around the world. Will His AI Plans Be Any Different? Join the thousands of business and community leaders and Indiana residents that choose IBJ as their primary local news source. At the time, we acknowledged that with the help of an activist investor, the company can come off its 2008 lows and create value for shareholders. It grew to become the largest producer of caskets in the nation and its shiny gold Promethean casket has often been spotted at celebrity burials, including for superstars Michael Jackson, Aretha Franklin and James Brown. Therefore, the SpinCo (suggested ticker BATES) is in a much better state to be listed today, creating a pure-play, high free cashflow generating business. Hillenbrand is one of the. These factors include, but are not limited to: global market and economic conditions, including those related to the financial markets; the impact of contagious diseases such as the COVID-19 pandemic and the escalation thereof due to variant strains of the virus and the societal, governmental, and individual responses thereto, including supply chain disruption, loss of contracts and/or customers, erosion of some customers' credit quality, downgrades of the Company's credit quality, closure or temporary interruption of the Company's or its suppliers' manufacturing facilities, travel, shipping and logistical disruptions, domestic and international general economic conditions, such as inflation, exchange rates and interest rates, loss of human capital or personnel, and general economic calamities; risks related to the Russian Federation's invasion of Ukraine (referred to herein as the "Ukraine War") and resulting geopolitical instability and uncertainty, which could have a negative impact on our ability to sell to, ship products to, collect payments from, and support customers in certain regions, in addition to the potential effect of supply chain disruptions that could adversely affect profitability; the risk of business disruptions associated with information technology, cyber-attacks, or catastrophic losses affecting infrastructure; negative effects of the Linxis Group SAS ("Linxis") acquisition or other acquisitions on the Company's business, financial condition, results of operations and financial performance (including the ability of the Company to maintain relationships with its customers, suppliers and others with whom it does business); the possibility that the anticipated benefits from the Linxis acquisition and other acquisitions cannot be realized by the Company in full or at all or may take longer to realize than expected; risks that the integrations of Linxis or other acquired businesses disrupt current operations or pose potential difficulties in employee retention or otherwise affects financial or operating results; any failure to obtain, or delays in obtaining, required regulatory approvals or clearances for the Proposed Transaction; any failure by the parties to satisfy any of the other conditions to the Proposed Transaction; the possibility that the Proposed Transaction is ultimately not consummated; potential adverse effects of the announcement or results of the Proposed Transaction on the market price of the Company's common stock or on the ability of the Company to develop and maintain relationships with its personnel and customers, suppliers and others with whom it does business or otherwise on the Company's business, financial condition, results of operations and financial performance; risks related to diversion of management's attention from our ongoing business operations due to the Proposed Transaction; the impact of the Proposed Transaction on the ability of the Company to retain and hire key personnel; increasing competition for highly skilled and talented workers as well as labor shortages; our level of international sales and operations; the impact of incurring significant amounts of indebtedness and any inability of the Company to respond to changes in its business or make future desirable acquisitions; the ability of the Company to comply with financial or other covenants in debt agreements; cyclical demand for industrial capital goods; the ability to recognize the benefits of any acquisition or disposition, including potential synergies and cost savings or the failure of the Company or any acquired company to achieve its plans and objectives generally; impairment charges to goodwill and other identifiable intangible assets; competition in the industries in which we operate, including on price; impacts of decreases in demand or changes in technological advances, laws, or regulation on the revenues that we derive from the plastics industry; our reliance upon employees, agents, and business partners to comply with laws in many countries and jurisdictions; increased costs, poor quality, or unavailability of raw materials or certain outsourced services and supply chain disruptions; continued fluctuations in mortality rates and increased cremations; the dependence of our business units on relationships with several large customers and providers; competition faced by our Batesville business from non-traditional sources; the impact to the Company's effective tax rate of changes in the mix of earnings or tax laws and certain other tax-related matters; exposure to tax uncertainties and audits; involvement in claims, lawsuits and governmental proceedings related to operations; uncertainty in the United States political and regulatory environment or global trade policy; adverse foreign currency fluctuations; labor disruptions; and the effect of certain provisions of the Company's governing documents and Indiana law that could decrease the trading price of the Company's common stock. Casket prices, coffin prices, buy casket online, buy caskets in Seattle, cheap caskets in Portland, buy my own casket direct cheaper than funeral homes, Batesville, matthews Aurora, Signet and other name brands. Hillenbrand, Inc. engages in designing, manufacturing, and servicing highly engineered and mission-critical equipment and solutions to the customers. What do we do? Baxter bought Hill-Rom in 2021. 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Cremation is the combustion, vaporization, and oxidation of cadavers to basic chemical compounds, such as gases, ashes and mineral fragments retaining the appearance of dry bone. In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. "We are excited to mark this important milestone for Batesville, and to work closely with LongRange as we position the business for its next chapter.". The business it has that sticks out like a sore thumb and that doesn't fit with the rest of the company is its Batesville business, which is involved in the manufacturing and sale of funeral service products, including burial and cremation caskets, cremation containers and urns, other personalization and memorialization products and technology applications for funeral homes. The following is all from our March 31, 2022, report with some recent updates and is available on request. However, if we adjust the debt distribution to allow BATES to remain in the S&P SmallCap 600, the below table is the ideal debt distribution scenario: S&P SmallCap 600 Index Inclusion Scenario. LongRange is currently investing a highly flexible, committed capital pool backed by long-term institutional holders. As part of an increasing focus on personalization, LifeSymbols corners are introduced. Joe A. Raver retired at the end of 2021. Sometimes companies are sitting on hidden value and at other times, they just need to be given a push to consider looking more closely at finding and ultimately realizing that value for shareholders. "We are greatly appreciative of Batesvilles long and successful operating history as part of Hillenbrand and we look forward to working closely to execute a seamless transition. This browser is no longer supported at MarketWatch. 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The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. In that report, that you can read here, they reported that the Batesville segment produced revenue of $623 million for the year. Our one-year Base case target price is $67.36 for HI, implying a potential upside of +45% from the current share price of $46.57. All quotes are in local exchange time. CASKET PRICE LIST These prices are effective as of December 12, 2016, but are subject to change without notice. Solid Bronze w/ Champagne Velvet Interior. BATESVILLE, Ind. Batesville is the largest casket manufacturer in the world. However, our Sum-of-the-parts target price comes to around $78.99, which implies a potential upside of +70%. Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. Intraday Data provided by FACTSET and subject to terms of use. Hillenbrand sells casket business Batesville to LongRange Capital Dec. 15, 2022 at 7:44 a.m. So, in my opinion, I see the city as being very successful.