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Hillenbrand paying $530M for German company

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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.

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.

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  • JC Penney deja vue
    Sounds like when JC Penney got into the drug store business and purchased Eckardts. Did they ever recover from that? Hope this is different.

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  1. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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