Lone Star Funds to Acquire Hillenbrand for $3.8 Billion in Cash

Hillenbrand, Inc. (HI) entered a merger agreement on October 15, 2025, to be acquired by Lone Star Funds in an all-cash deal valued at $3.8 billion.

Deal Structure:

An affiliate of Lone Star Funds will acquire Hillenbrand in an all-cash transaction valued at $32 per share, representing a premium of 20.80% from the stock’s last close.

Company Profile:

Hillenbrand is a global industrial company that designs and manufactures highly engineered processing equipment, systems, and solutions for industries such as plastics, food, recycling, and industrial materials through its Advanced Process Solutions, Molding Technology Solutions, and Batesville segments.

Lone Star Funds is a leading global investment firm managing private equity, credit, and real estate strategies, with aggregate capital commitments of approximately $95 billion.

Deal Details and Timeline:

In August, Bloomberg reported that Hillenbrand was exploring strategic options, including a potential sale. The stock was trading at $23.43 per share when it was revealed that the plastic parts and equipment maker was working with an adviser to gauge interest from potential buyers.

The deal is expected to close by the end of the first quarter of 2026.

Evercore is serving as financial advisor to Hillenbrand, with Skadden, Arps, Slate, Meagher & Flom providing legal counsel. Jefferies and UBS Investment Bank are serving as financial advisors to Lone Star Funds, with Kirkland & Ellis providing legal counsel.

The acquisition deal values Hillenbrand at 8.37 times EBITDA, as paid by Lone Star Funds.

Deal Metrics:

For an in-depth look at the metrics of this merger and acquisition transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Hillenbrand, Inc. (HI) by Lone Star Funds

The Deal Metrics page provides comprehensive details about each merger or acquisition, including:

• A spread history chart tracking the merger from announcement to completion or failure.
• Key events as the merger progresses, such as the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
• Relevant news and SEC filings.
• A history of updates on the deal.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article