Hillenbrand and Batesville intend to keep their headquarters in Greater Cincinnati. BATESVILLE, Ind., Dec. 15, 2022 /PRNewswire/ -- Hillenbrand, Inc. (NYSE: HI) announced today that it has entered into a definitive agreement to sell its Batesville business segment to an affiliate of private equity firm, LongRange Capital, for $761.5 million, which includes an $11.5 million sub-note. $999.99. And finally, with someone new at the helm who has seen first-hand what kind of value a Spinoff can create, there is a greater opportunity for a Spin today. In Stock. Our passion has never been stronger to lead the industry with positive changes that enhance funeral service. If we assume management decides to assign enough debt on BATES that the leverage trades in-line with peers (around 3.7x), this requires a debt distribution in the ratio of 51%-49% for Advanced Process Solutions & Molding Tech Solutions and BATES, respectively. The Lord's Prayer Casket by Prime To verify availability and to confirm Shipping Delivery time and date, please contact Prime Caskets at 800-294-8548 before placing your order. Thats not to say that there arent many problems with the city. Intraday Data provided by FACTSET and subject to terms of use. This browser is no longer supported at MarketWatch. There is a new CEO on board after the previous CEO of HI was there for the last eight years and with the company for 27 years. 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. Funeral homes often have high prices for the workmanship and quality of these brand name caskets. ", "Batesville is a strong business with passionate associates who are committed to our customers and our mission of helping families honor the lives of those they love," said Chris Trainor, President of Batesville. Words that could indicate that we are making forward-looking statements include the following: This is not an exhaustive list, but is intended to give you an idea of how we try to identify forward-looking statements. One Batesville Boulevard Batesville, IN 47006 Investor Relations Hillenbrand, Inc. Sam Mynsberge T: 812-931-5036 investors@hillenbrand.com Transfer Agent Computershare Limited T: 877-745-9349 Antique Blue . Batesville Casket traces its roots to 1884, when it was founded as the Batesville Coffin Co. John A Hillenbrand purchased the company in 1906 and renamed it the Batesville Casket Co. Ms. Ryan has been on the board of a company that previously performed a Spinoff. Shape What Matters For Tomorrow. Net proceeds from the sale are expected to be used for debt reduction. This transaction is expected to close in the first calendar quarter of 2023, subject to regulatory approvals and other customary closing conditions. It is a broker that sells shares of stock on a stock exchange. All quotes are in local exchange time. Cremation may serve as a funeral or post-funeral rite as an alternative to the interment of an intact dead body in a coffin or casket. The following is all from our March 31, 2022, report with some recent updates and is available on request. Alaskas arduous Iditarod kicks off with ceremonial start. (December 2021) Batesville Casket Company manufactures caskets and cremation urns. Intraday data delayed at least 15 minutes or per exchange requirements. There are currently no items in this Watchlist. Batesville Caskets Gallery | Batesville Caskets Gallery Home Select Page 18 GAUGE CRYSTAL BLUE 18 GAUGE PRIMROSE 18 GAUGE SEALER MIDNIGHT SILVER 20 GAUGE GEMINI WHITE 20 GAUGE SEALER CARNATION MIST 20 GAUGE SEALER SILVER EBONY 20 GAUGE STAR SILVER 700 MASTERPIECE MAHOGANY CLASSIC GOLD 48 OZ. batesville casket company stock includes essentials like mortuary equipment, funeral equipment, and even some affordable options . Opens in a new window. What it will take to get a contrarian buy signal for gold, Bombay Sapphire ups the lemony flavor in this elegant, refreshing addition to its gin lineup, An orphan at 65: setting new priorities after the loss of your parents, U.S. prepares new rules on investment in China. For more information, please visit www.longrangepartners.com. LifeStories caskets and medallions are added to the product offering, increasing the range of options for personalizing Batesville caskets. 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. Hillenbrand had announced on July20, 2022, that its Board of Directors had initiated a process to explore strategic alternatives for its Batesville business. Gemini Monarch Blue Casket with Blue Crepe Interior- Metal Casket . Stamford, Connecticut-based LongRange Capital was founded in 2019 by Bob Berlin and invests in a range of consumer, industrial, and information and technology companies. Batesville, Indiana 47006 Phone 1 812 934-7000 Industry Industrial Machinery Sector Industrial Goods Fiscal Year-end 01/0002 Revenue $2.94B Net Income $208.9M 2022 Sales Growth N/A Employees N/A. The next major story for Hillenbrand will be moving their HQ location out of the state. Credit Suisse served as lead financial advisor to LongRange Capital and TD Securities also served as financial advisor. This browser is no longer supported at MarketWatch. Log in to see them here or sign up to get started. Its extremely unsettling to think of our mortality. Net proceeds from the sale are expected to be used for debt reduction, Hillenbrand said. Hillenbrands move would result in it selling off the casket-making business and brand that served as the roots for the larger Hillenbrand company in Batesville starting in 1884. The company announced the deal Thursday morning, a move that would result in the selling off of the business and brand that served as the roots for the larger Hillenbrand company in Batesville starting in 1884 and would grow to become the nations largest casket maker. According to a release, LongRange's purchase of Batesville is expected to close in the first quarter of 2023. Dimensions by Batesville is introduced to serve the oversize and plus size casket market. Upon completion of Hillenbrand's divestiture of its Batesville business, Hillenbrand and Batesville will both remain headquartered in Batesville, Indiana. WOODBRIDGE PECAN/146799 CWPNBACMBQ / Batesville $5,299 Solid pecan casket with a medium stained, satin finished exterior and champagne velvet interior. Some locations may deliver sooner than 3 business days. 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. Intraday Data provided by FACTSET and subject to terms of use. Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. Caskets, Urns & Keepsakes - Batesville Celebrating lives. 209.55 cm L X 72.39 cm W X 58.42 cm H 8. 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. The stock youre looking for is called Batesville Casket Company, and it is a stock broker that sells shares of stock on a stock exchange. 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). View source version on businesswire.com: https://www.businesswire.com/news/home/20221215005565/en/, Brian Ruby, ICR, 203-682-8268, brian.ruby@icrinc.com, https://www.businesswire.com/news/home/20221215005565/en/, Soccer-Traore on target as Wolves stun wasteful Spurs, Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, UPDATE 1-Bankman-Fried can have flip phone, limited internet while on bail, US proposes, China's economy, government revamp in focus as parliament set to open, The U.S. government is turning up the heat on TikTok here's the latest. Hillenbrand is a company listed under the stock ticker HI (US). Please note our updated comment policy that will govern how comments are moderated. Forward-looking statements are based on assumptions that we believe are reasonable, but by their very nature are subject to a wide range of risks. Thats why I wanted to ask that question, because its a city with a population of 30,000 people, but still manages to have a rich history, and one of the oldest banks in the state. We help support the death care industry through long-term relationships with professional associations across the US and Canada. The transaction allows Hillenbrand and Batesville to maintain clear focus on their respective core industries, creating value for customers, shareholders, other stakeholders, and associates. One of the things wed like to do is to talk to some of the people whove been through that city, and find out what they think, what theyre up against, what they think of Batesville. The word took two different paths, cofin in Old French originally meaning basket, became coffin in English and became couffin in modern French which nowadays means a cradle. Team work is hard to come by so don't expect help. See below for our different market cap scenarios. The announcement of the deal with an affiliate of LongRange Capital provided no guidance on what impact the sale might have on Batesville Casket, its employees or its holdings in southeastern Indiana, the Indianapolis Business Journal reported. Hillenbrand, Inc. (HI) Stock Price, News, Quote & History - Yahoo Finance Dow Futures Hillenbrand, Inc. (HI) NYSE - NYSE Delayed Price. We believe the correct route for them is to Spinoff the business to existing shareholders to maximize value. 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. BATESVILLE, Ind. It is a city that some of the same people who work in the banks, the same people who run the banks, have been involved in the economy of the city from the beginning. 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. John A. Hillenbrand and associates pose at the Batesville facility (via Batesville) Starting in the 1860s, a German immigrant began quietly acquiring these small casket brands in a bid to consolidate the market. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? 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Caskets. 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, trends toward cremation were slowly shrinking sales. The move away from HIs 100+ year old legacy death/burial business first began after a string of acquisitions starting in 2010. 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. Cookie Notice (). Throughout this release, we make a number of "forward-looking statements," including statements regarding the proposed sale of our Batesville business (the "Proposed Transaction") and the expected timing, costs and benefits thereof, that are within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and that are intended to be covered by the safe harbor provided under these sections. The word took two different paths, cofin in Old French originally meaning basket, became coffin in English and became couffin in modern French which nowadays means a cradle. Solid Mahogany Batesville Paragon Mahogany. What do we do? Cookie Notice (). More info / Customize. Batesville 16 Gauge Batesville 18 Gauge Batesville Bronze & Copper Batesville Hardwood Oversized Eco Friendly Cremation Hero & Military Vault New Arrivals On Sale Uncategorized Color Employers, Weve Got You Covered! 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. Something went wrong while loading Watchlist. 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. Joe A. Raver retired at the end of 2021. Wood, Particle Board, and Corrugated Caskets Casket Description Price Solid Mahogany Batesville President Mahogany.
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