Hillenbrand Snatching Up German Company For $530 Million

October 16, 2012
2 Comments
Advertisement

Source:  Indianapolis Business Journal

The Batesville-based conglomerate best known for making caskets is making its biggest move yet to diversify away from the funeral care business.

Hillenbrand Inc. has agreed to pay the equivalent of $530 million to acquire privately held Coperion Capital GmbH, which makes materials-handling equipment and is based in Stuttgart, Germany.

Advertisement

The deal, expected to close in December or January, would immediately add to Hillenbrand’s earnings per share, the company said. Coperion would keep its German home base and join Hillenbrand’s Process Equipment Group, boosting the division’s annual revenue to more than $1 billion, two-thirds of Hillenbrand’s total.

“Their strategy is to use the cash flow from the casket business to diversify and grow into other niche industrial businesses with a higher growth profile,” CJS Securities analyst Daniel Moore told Reuters.

Coperion builds equipment used in a broad range of industries, including plastics, chemical, food processing, pharmaceutical and aluminum.

“The acquisition of Coperion represents a very significant move forward for our company,” Hillenbrand CEO Kenneth A. Camp said in a prepared statement. “Coperion is a highly respected company which is led by an exceptionally talented management team with extensive global experience.”

Hillenbrand is buying the company from private equity firm Deutsche Beteiligungs AG.

The acquisition will be the second major for one Hillenbrand in just over a year. The company acquired Rotex Global LLC for $240 million last September.

Hillenbrand shares rose 3 percent, or 56 cents, Tuesday morning, to $19.20 each.

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

FTC Releases Results of Undercover Funeral Rule Investigation… 4 Regions Bombed
Funeral Industry News
903 views
Funeral Industry News
903 views

FTC Releases Results of Undercover Funeral Rule Investigation… 4 Regions Bombed

Justin Crowe - June 18, 2018

The FTC has released its report detailing the results of its undercover Funeral Rule investigation for 2017. Last year, the…

RELEASE THE FN CRAKN! | FUNERAL nation 114
Funeral Industry News
276 views
Funeral Industry News
276 views

RELEASE THE FN CRAKN! | FUNERAL nation 114

CDFuneralNews - June 18, 2018

It's a barn burner... The Commander is moving his Command Post!!! Besides the Commander on the move, the boys speak…

FrontRunner Professional Announces Expansion of Development Team
Frontrunner Professional
3 views
Frontrunner Professional
3 views

FrontRunner Professional Announces Expansion of Development Team

CDFuneralNews - June 18, 2018

Today FrontRunner Professional announced a significant expansion to their programming and development team with the addition of Greg Daye and…

Comments