On October 15, 2025, Hillenbrand, Inc. announced that it would be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $32.00 per share, with an enterprise value estimated at approximately US$3.8 billion (about C$5.2 billion). A premium of 37% over Hillenbrand’s closing share price on August 12, 2025, and 53% over the 90-day volume weighted average price ending on that date is reflected in the offer. Processing equipment and solutions are supplied by Hillenbrand through its Advanced Process Solutions and Molding Technology Solutions segments. In recent years, acquisitions, divestitures, and expansion of the industrial food equipment business have been prioritized by the company. The transaction was unanimously approved by the Board of Directors after several strategic alternatives were considered.

The transaction is expected to close by the end of the first quarter of 2026, subject to customary shareholder and regulatory approvals. Upon completion, Hillenbrand would be a private company and its shares will be delisted from the New York Stock Exchange.

Financial advisory services to Hillenbrand are being provided by Evercore, and legal counsel is being provided by Skadden, Arps, Slate, Meagher & Flom LLP. Jefferies LLC and UBS Investment Bank are serving as financial advisors, and Kirkland & Ellis as legal counsel to Lone Star. Davies Ward Phillips & Vineberg LLP acted as Canadian counsel to Lone Star.