This transaction is expected to close in the first calendar quarter of 2023, subject to regulatory approvals and other customary closing conditions. 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. One of the biggest is that theres a lot of debt. Market Cap Scenario of Split Based on March 2020 Revenue Contribution. Batesville (www.Batesville.com), a wholly owned subsidiary of Hillenbrand, Inc. (NYSE: HI), is a recognized leader in the death care industry in North America, offering a comprehensive portfolio of burial and cremation products, memorialization options and innovative technology solutions. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. batesville is a stock broker that sells shares of stock on a stock exchange. The first embroidered designs for casket interiors are created and launched, lending a more personal touch to Batesville caskets. Something went wrong while loading Watchlist. More info / Customize. We make the industrial equipment that molds possibilities for our future and delivers what's essential to sustain our tomorrow. Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. LongRange Capital was founded in 2019 by Bob Berlin and invests in a range of consumer, industrial and information and technology companies. They pivoted back in like 2008 if you buy an Urn in Indiana it is likely from them as well, Do they still have medical division, they use to have 70% of the hospital bed market. 1971: Hillenbrand Industries completes its initial public offe ring of stock. 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. Team work is hard to come by so don't expect help. . . 18 Gauge Metal; 20 Gauge Metal; Oversized Caskets; Stainless Steel Caskets; Full Couch Caskets; Showing 80 of 115 products. Batesville introduces the MemorySafe drawer as a customization option. Hillenbrand is the 18th-largest public company in Indiana based on its 2021 revenue of $2.9 billion, according to research by the Indianapolis Business Journal. Likewise, HIs debt at the time was around 4x and would have presented a challenging split. In Stock. "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. 24/7 coverage of breaking news and live events. Through innovation and craftsmanship, we create funeral and memorialization products that support funeral professionals and the families they serve. How to Solve pii_email_4bd3f6cbbb12ef19daea Error. 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. The city has a very large bureaucracy, and it has a very large amount of money. "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. However, coffins having a one-piece side with a curve at the shoulder instead of a join are more commonly used in the United Kingdom (UK). For the best MarketWatch.com experience, please update to a modern browser. Job in Batesville - IN Indiana - USA , 47006. LongRange's acquisition of Batesville, from Hillenbrand, Inc. (NYSE: HI), a global industrial company, is expected to close in the first quarter of 2023, subject to regulatory approval and other . Beginning healing. I feel very hurt: My late wifes parents cut me out of their will and reduced my daughters inheritance. (KBAL) since January 2014, which performed a Spin of its Electronic Manufacturing Services business called Kimball Electronics, Inc. (KE) on November 3, 2014. This was reflected in its 2-year TSR annualized (shown below), but historically HI has always been on the lower-end of the TSR chart versus its peers and Index with respectfully a better performance recently. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. It is a broker that is regulated by the Securities and Exchange Commission. So many people dont want a casket anymore. Evercore acted as a financial advisor for Hillenbrand for this transaction, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel. Here at The Edge, we to seek out untapped shareholder value as well as underperforming companies for Activist investors. Log in to see them here or sign up to get started. Cremation, meanwhile, has been eating into casket sales. 2021-22 Hoosiers Talk About Why Indiana is a Great Place for Your Career, 2020-21 Todays College Students Older, Wiser, 2019-20 Former Indy 500 Driver Crosses College Finish Line, United places huge order with Boeing to replace aging planes, Lebanon votes to annex 5,225 acres for LEAP district, Hoosier manufacturers ramping up adoption of advanced technologies, report shows, As supply chains unclog, consumers enjoy (tentative) relief, Noblesville City Council approves incentives for $30M SMC expansion plan, Republic sues flight school students over deal for reduced tuition, Investors wary as Elanco pins hopes on new products, Robotics curriculum initiative targets younger, nonwhite kids. However, one of the reasons I love Batesville is because it has a very good economy. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Founded in 1884, Batesville (commonly referred to as the . 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Guided by our Purpose Shape What Matters For Tomorrow we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. 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.

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