As humans, we find death a difficult topic as it brings up a lot of feelings of anxiety, fear and awkwardness. FREE SHIPPING. Shape What Matters For Tomorrow. The company was founded on November 1, 2007 and is headquartered in Batesville, IN. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. KBAL 86% of retail CFD accounts lose money, https://www.prnewswire.com/news-releases/hillenbrand-announces-divestiture-of-batesville-casket-company-accelerating-transformation-301704086.html, Hillenbrand Annual Meeting Led by New Chairperson, Helen Cornell, Hillenbrand Declares Second Quarter Dividend of $0.22 Per Share, Hillenbrand FQ1 results mixed, co raises FY 2023 adj. Hillenbrand seems an obvious candidate for hidden value release. Since then, more than 14.5 million trees have been planted under this program. Privacy Notice | BATESVILLE, Ind. 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. Privacy Notice | 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. The company offers a wide selection of burial and cremation products, keepsakes, and business and technology solutions that serve the needs of families and licensed funeral professionals across North America. Hillenbrand said in a press release Thursday that the sale of the casket company coupled with its acquisitions of LINXIS Group, Herbold Meckesheim, Peerless Food Equipment, and Gabler Engineering will mark a significant milestone in the companys transformation, establishing Hillenbrand as a global industrial leader in highly engineered processing solutions and plastics molding. The company said the casket company's sale, coupled with its acquisitions of LINXIS Group, Herbold Meckesheim, Peerless Food Equipment and Gabler Engineering, will mark a significant milestone for Hillenbrand, establishing it as a global industrial leader in highly engineered processing solutions and plastics molding. I really dont have much time to write this, but I was having a really interesting discussion with a friend about the state of Batesville, and what we think is the most interesting thing about it. Caskets are delivered to more than 16,000 funeral homes daily using Batesville's own fleet of trucks. This would lead to a market cap of around $1.6 billion for BATES and a $1.7 billion Market Cap for the RemainCo (with a favorable leverage of 1.4x). 1978. -- 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. LongRanges 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 customary closing conditions. Finally on July 20, the company have announced a strategic review of their Batesville business. Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. If you have not registered, please sign up for a free account now. Batesville Casket, based in Batesville, Ind., has for years commanded about 40 percent market share of a $1.5 billion industry. There can be no assurance that the Proposed Transaction will be consummated. Batesville 15,765 followers 3mo Like the Dryden casket? The stock you're looking for is called "Batesville Casket Company," and it is a stock broker that sells shares of stock on a stock exchange. See below for our different market cap scenarios. View Products For Families Find grief support and guidance on planning a funeral. It is a broker that is regulated by the Securities and Exchange Commission. However, our Sum-of-the-parts target price comes to around $78.99, which implies a potential upside of +70%. Batesville plus size Stainless Steel Oversize Casket w/ Silver Velvet Interior. So, in my opinion, I see the city as being very successful. Hillenbrand had announced on July 20, 2022, that its board was starting to look for "strategic alternatives" for the Batesville business, which started in 1884 as the Batesville Coffin Company before it was purchased by John A. Hillenbrand in 1906. Furthermore, the management has proudly highlighted they have been able to achieve a 100% FCF conversion rate over the past decade, which shows both BATES and the remaining HI business (Advance Process & Molding Technology Solutions) are high free cash flow generating divisions. Please slide to verify. Employers, Weve Got You Covered! "We will remain focused on serving our customers and look forward to working with LongRange Capital as our partner, and with Hillenbrand to ensure a smooth transition for our associates.". As a result, some of the services that Batesville has provided over the years are now needed by the city, and not just the city. Were being punished after I remarried. Will fit into a standard outer burial container. In essence, Batesville saw their margins drop to about 24.9% of sales " primarily due to inflation, including higher transportation premiums, and the impact of lower volume, which more than offset the impact of higher average selling . A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. We believe the correct route for them is to Spinoff the business to existing shareholders to maximize value. But Hillenbrand said that both it and Batesville Casket would continue to be headquartered in Batesville, an Indiana community about 60 miles (80 kilometers) southeast of Indianapolis. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. About Us; 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 . Credit Suisse served as lead financial advisor to LongRange Capital and TD Securities also served as financial advisor. Explore one of our most. Nominate a company for IBJs exclusive ranking of fastest-growing privately held companies by March 1st. Hillenbrand has 6 subsidiaries including Batesville Casket Company, Coperion and Milacron. Its extremely unsettling to think of our mortality. For more than 115 years, Batesville has crafted products that make funerals truly meaningful - helping families honor the lives of those they love . After HIs biggest acquisition of Milacron in March 2020, the companys debt was around 4x and therefore why we mentioned this higher leverage would have presented a challenge for a break-up at the time. WARREN OAK/239372 CWOKBAMIBQ / Batesville $6,099 Solid oak casket with a dark stain, satin finish exterior and champagne velvet interior. The announcement of the deal with an affiliate of LongRange Capital provided no . Hillenbrand Inc. has reached an agreement to sell its storied Batesville Casket Co. to an affiliate of a Connecticut-based private equity firm for $761.5 million. Pearl velvet interior. The transaction allows Hillenbrand and Batesville to maintain clear focus on their respective core industries, creating value for customers, shareholders, other stakeholders, and associates. Continuing to innovate in casket design, the company introduces the original gasketed casket and first safety-sealed hardware. For example, police and fire departments, as well as a lot of health care costs. In fact, close to 55% of all funerals in the US currently are cremations. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. "We look forward to building upon our track record of performance, enabled by consistent deployment of the Hillenbrand Operating Model to drive profitable growth and deliver long-term value to our shareholders. Changebridge Capital Sustainable Equity ETF, Changebridge Capital Long/Short Equity ETF, O'Shares FTSE Russell Small Cap Quality Dividend ETF, Service Corporation: Still Attractive Despite A Return To Normalcy, Nasdaq, S&P and Russell 2000 all shape 'bull' flags, Only trade when you can express your edge. Join us for an evening of networking designed especially for real estate professionals. Lilac Silver 18 Gauge Steel Casket $ 1,795.00 Athena Rose - 18 Gauge Steel Casket $ 1,595.00 White Cross 18 Gauge Steel Casket $ 1,595.00 Princeton 18 Gauge Steel Premium Casket $ 1,495.00 Spruce 18 Gauge Steel Casket $ 1,495.00 Royal Ebony 18 Gauge Steel Casket $ 1,595.00 Noble Blue Brush 18 Gauge Steel Casket $ 1,795.00 26" interior width. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussion under the heading "Risk Factors" in Part I, Item 1A of Hillenbrand's Form 10-K for the year ended September 30, 2022, filed with the Securities and Exchange Commission ("SEC") on November 16, 2022. However, it said both Hillenbrand and Batesville Casket would continue to be headquartered in Batesville, a community of 6,700 people about 50 miles from Cincinnati. 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. If HI plans to split the company based on the revenue contribution in todays terms (as of February 2022), even though the leverage seems more appreciable than in March 2020, the market cap would still lead to Batesville being kicked out of S&P SmallCap 600 Index, as the most recently updated criteria requires the minimum market cap to be around $850 million, which is higher than our scenario putting Batesvilles market cap at around $619 million.
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