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LongRange's acquisition of Batesville, from Hillenbrand, Inc. , a global industrial company, is expected to close in the first quarter of 2023, subject to regulatory approval and other customary . Hillenbrand, Inc. (HI) Stock Price, News, Quote & History - Yahoo Finance Dow Futures Hillenbrand, Inc. (HI) NYSE - NYSE Delayed Price. There can be no assurance that the Proposed Transaction will be consummated. It is a broker that is regulated by the Securities and Exchange Commission. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. A distinction is often made between coffin and casket: the latter . Batesville Casket was the only company Hillenbrand owns in Indiana and represented about 25% of their total revenue. The 125-year-old company currently builds metal and wood caskets at five plants in the United States and Mexico. Disclaimer of . Sort by: Aegean Bronze . Subscriber Agreement & Terms of Use | (December 2021) Batesville Casket Company manufactures caskets and cremation urns. Join us for an evening of networking designed especially for real estate professionals. Something went wrong while loading Watchlist. After thorough review, it was determined that the divestiture of the Batesville business is in the best interests of Hillenbrand and its shareholders. So, in my opinion, I see the city as being very successful. Increase in cremation is killing the casket business. Cremation. Shareholders, potential investors, and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. Feb 27, 2023 (The Expresswire) -- Report Insights: The Global Cremation Caskets market is valued at USD million in 2020 is expected to reach USD million by the end of 2026, growing at a CAGR . We help families honor the lives of those they love in everything we do, from our products and services to our deep connections and partnerships with the funeral industry. You may opt-out by. The next major story for Hillenbrand will be moving their HQ location out of the state. Our history of manufacturing excellence, product innovation, superior customer service, and reliable distribution spans more than a century. Since then, more than 14.5 million trees have been planted under this program. It was. A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. The business it has that sticks out like a sore thumb and that doesn't fit with the rest of the company is its Batesville business, which is involved in the manufacturing and sale of funeral service products, including burial and cremation caskets, cremation containers and urns, other personalization and memorialization products and technology applications for funeral homes. At CasketSite.com we offer Batesville Caskets direct to you, at our guaranteed wholesale prices. The news came on the same day Hillenbrand. What do we do? Here is the key point: Forward-looking statements are not guarantees of future performance or events, and actual results or events could differ materially from those set forth in any forward-looking statements. Today, HI is a $3.3 billion Market Cap company, with a $4.1 billion EV. 209.55 cm L X 72.39 cm W X 58.42 cm H 8. Hillenbrand seems an obvious candidate for hidden value release. 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. "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. We make the industrial equipment that molds possibilities for our future and delivers what's essential to sustain our tomorrow. Intraday data delayed at least 15 minutes or per exchange requirements. The first embroidered designs for casket interiors are created and launched, lending a more personal touch to Batesville caskets. Coffin. A coffin about to be lowered at a funeral service in a cemetery. This was made clear in HIs most recent transcript (Feb 3, 2022), where the management said that our next strategic pillar is to manage Batesville for cash.. If you are an Activist investor looking for companies like this or you are a regular investor looking to take advantage of price moves due to corporate change, please contact me and experience our service. Cookie Notice (). If the management wanted to shift debt in such a proportion to allow Batesville to remain a part of the SmallCap Index, it would have required a 42% distribution of debt, which would have led to a higher leverage of 6.2x for Batesville, making it even less appealing for investors as a standalone company, Market Cap Scenario of Split Based on February 2022 Estimated Revenue Contribution. Hillenbrand (NYSE: HI) is a global industrial company operating in over 40 countries with over 10,000 associates serving a wide variety of industries around the world. At the time, we acknowledged that with the help of an activist investor, the company can come off its 2008 lows and create value for shareholders. For more information, please visit www.longrangepartners.com. KBAL All quotes are in local exchange time. The move away from HIs 100+ year old legacy death/burial business first began after a string of acquisitions starting in 2010. At a leverage of 2.3x (Scenario 3) or 1.4x (Scenario 2), the leverage is way lower than the peer average of 3.7x (CSV: 5.4x, MATW: 3.8x and SCI: 3.6x). It grew to . Casket prices, coffin prices, buy casket online, buy caskets in Seattle, cheap caskets in Portland, buy my own casket direct cheaper than funeral homes, Batesville, matthews Aurora, Signet and other name brands. 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 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. Warehouse Associate- (full-time) Columbus, Ohio, USA. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. 24/7 coverage of breaking news and live events. Were being punished after I remarried. Our passion has never been stronger to lead the industry with positive changes that enhance funeral service. In Stock. Job in Batesville - IN Indiana - USA , 47006. 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. Beginning in its fiscal 2023 first quarter, Hillenbrand expects to classify the Batesville business as "held for sale" and anticipates it will report results of the Batesville business as discontinued operations for the current and historical periods in Hillenbrand's consolidated financial statements. Join the thousands of business and community leaders and Indiana residents that choose IBJ as their primary local news source. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. 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. More info / Customize. Please slide to verify. Log in to see them here or sign up to get started. 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, Berlin said in written remarks. Employers, Weve Got You Covered! How to Solve pii_email_4bd3f6cbbb12ef19daea Error. Jan 31, 2023. Log in to see them here or sign up to get started. Hillenbrand said it agreed to sell Batesville Casket to a LongRange Capital affiliate so it can focus on its strategic move toward long-term growth in attractive markets such as plastics, food and recycling. Greenberg Traurig, LLP acted as legal counsel to LongRange. Any number of factors, many of which are beyond our control, could cause our performance to differ significantly from what is described in the forward-looking statements. The author owns shares of Hillenbrand Inc. Will fit into a standard outer burial container. As the words imply, these are statements about future events, results of operations, uses of cash, financings, ability to meet deleveraging goals, and other measures of financial performance or potential future plans or events, strategies, objectives, beliefs, prospects, assumptions, expectations, projected costs or savings or transactions of Hillenbrand (the "Company") that might or might not happen in the future, the anticipated costs and benefits of the Proposed Transaction, and the expected timing of completion of the Proposed Transaction, as contrasted with historical information. 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. 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. ET by Steve Gelsi Hillenbrand Sells Batesville Casket Business for $761.5 Million Dec. 15, 2022. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand's expectations and projections. Paralegal. Continuing to innovate in casket design, the company introduces the original gasketed casket and first safety-sealed hardware. Musk Made a Mess at Twitter. Batesville Casket Co.-Vicksburg Operations, Vicksburg, Miss. 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. As a Warehouse Associate you will be responsible for. Hillenbrand, Inc. engages in designing, manufacturing, and servicing highly engineered and mission-critical equipment and solutions to the customers. Caskets are delivered to more than 16,000 funeral homes daily using Batesville's own fleet of trucks. 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).