BATESVILLE, Ind., – Hillenbrand, Inc. (NYSE: HI) has entered into a definitive agreement to acquire Herbold Meckesheim GmbH (Herbold) for an enterprise value of approximately 79 million euros. The transaction is expected to close in the fourth quarter of fiscal 2022, subject to regulatory approval and customary closing conditions.
Based in Meckesheim, Germany, Herbold is a leader in recycling systems, specializing in key process steps such as washing, separating, drying, shredding and pulverizing. With annual sales of over €50 million, Herbold is highly complementary to the equipment and solutions offered under our Coperion brand and will accelerate Hillenbrand’s growth opportunities in the recycling end market.
Upon completion of this transaction, Herbold will join the Coperion and Rotex brands as part of Hillenbrand’s Advanced Process Solutions (APS) segment. The APS segment focuses on highly engineered industrial processing solutions and aftermarket parts and services for a variety of end markets and applications.
“I am very pleased to announce the acquisition of Herbold, which reinforces our commitment to grow as a world-class industrial company, to execute our strategy to create long-term shareholder value and to accelerate our efforts to support a more sustainable future,” said Kim Ryan, President and CEO of Hillenbrand. “Herbold expands our position in the recycling end market, which offers attractive long-term growth prospects due to macro demand drivers for sustainable plastics and the desire for more sustainable solutions. Herbold will have a strong strategic fit with our Coperion brand, and together we will be able to offer complete recycling solutions to our customers. Finally, we plan to improve Herbold’s performance through the deployment of the Hillenbrand operating model and the use of our global sales and service capabilities.
Hillenbrand expects to use cash on hand and cash available under its revolving credit facility to fund this acquisition.
Hillenbrand (NYSE: HI) is a global industrial company operating in more than 40 countries with more than 10,000 associates serving a wide variety of industries around the world. Guided by our purpose – Shape What Matters For Tomorrow™ – we seek excellence, collaboration and innovation to constantly shape solutions that best serve our associates, customers, communities and other stakeholders. Hillenbrand’s portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion and Mold-Masters, in addition to Batesville. To learn more, visit: www.Hillenbrand.com