. Matthews International 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. The Company offers cremation urns, containers, and other related products. Aegean Bronze (203) - $5,300.00. Increase in cremation is killing the casket business. The Molding Technology Solutions segment includes engineered and customized equipment, systems, and services in plastic technology and processing. BATESVILLE, Ind. So many people dont want a casket anymore. 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 . The news came on the same day Hillenbrand. 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. All of us at . However, it said both Hillenbrand and Batesville Casket would continue to be headquartered in Batesville, a community of 6,700 people about 50 miles from Cincinnati. Over the years, weve fulfilled Hillenbrands vision to create the finest funeral products. KE jumped +128% in its first year from the Spinoff, so Ms. Ryan has seen first-hand and can appreciate the value creation potential following a break-up. It has been known as the Batesville Casket Company ever since. Coffin. It was. Hillenbrand is a company listed under the stock ticker HI (US). One of the biggest is that theres a lot of debt. They will likely not be stewards of the city as the Hillenbrand company has admirably been for decades. The Batesville segment is involved in the death care industry. 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 portfolio of burial and cremation products, memorialization options and innovative technology solutions. A coffin about to be lowered at a funeral service in a cemetery. The table above highlights the high conversion rate of FCF HI has achieved, which proves their superior debt-paying capabilities and ability to manage higher operational scaling (if required) based on its own funds. Batesville is a city with a rich history, but like most of the places on this list, its a city that does a lot of the same things, from a very simple structure to a very complex structure. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. The transaction allows Hillenbrand and Batesville to maintain clear focus on their respective core industries, creating value for customers, shareholders, other stakeholders, and associates. A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. Hillenbrand, also based in Batesville, said it has agreed to sell the business to an affiliate of LongRange Capital so it can focus on its strategic move toward long-term growth in attractive markets such as plastics, food and recycling. Add To Cart. Its stock was trading at around $17 early this week, below its $19.39 on Jan. 28 but above the $16.68 where it started the year. Editor's note: You can comment on IBJ stories by signing in to your IBJ account. 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). 24/7 coverage of breaking news and live events. It has 10,500 employees globally and in 2021, it reported that 6,500 of its employees were located in Indiana. Join us for an evening of networking designed especially for real estate professionals. 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. The next major story for Hillenbrand will be moving their HQ location out of the state. However, when asked about the long-term shift towards cremation (as peers have been), this topic is never fully explored, and the management highlighted a slight decrease in the revenues was due to an increase in families opting for cremation. Upon completion of Hillenbrand's divestiture of its Batesville business, Hillenbrand and Batesville will both remain headquartered in Batesville, Indiana. Thats not to say that there arent many problems with the city. To learn more, visit: www.Hillenbrand.com. The Batesville segment is involved in the death care industry. Our Batesville Caskets . . For the best MarketWatch.com experience, please update to a modern browser. ", "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. 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. WARREN OAK/239372 CWOKBAMIBQ / Batesville $6,099 Solid oak casket with a dark stain, satin finish exterior and champagne velvet interior. . A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. ", "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. Hillenbrand is the 18th largest public company in Indiana based on its 2021 revenue of $2.9 billion, according to IBJ research. We deliver innovative products and solutions that make a difference in the lives of families and matter to the funeral industry. 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. Subscriber Agreement & Terms of Use | Cremation. Opens in a new window. This transaction is expected to close in the first calendar quarter of 2023, subject to regulatory approvals and other customary closing conditions. Visit a quote page and your recently viewed tickers will be displayed here. BATESVILLE, IN Hospital bed and patient-monitoring device manufacturer Hill-Rom Holdings Inc. is being purchased by medical tech firm Baxter International in a blockbuster $10.5 billion cash deal, or $156 a share.. The diversified industrial company posted a loss for the quarter ended Sept Hillenbrand Inc.'s credit rating was cut Monday into "junk" territory at Fitch Ratings, citing expectations that the pace of the company's deleveraging following the will slow because of the coronavirus-related economic Shares of Milacron Holdings Corp. soared 21% toward a 9-month high in premarket trading Friday, after the plastic technology and processing company agreed to be acquired by Hillenbrand Inc. in a cash and stock deal value McDonald's Corp. and the International Olympic Committee have ended their partnership, the IOC announced in a release on Friday. For example, police and fire departments, as well as a lot of health care costs. You'll love the new Dryden Brown featuring a beautiful, warm satin finish that highlights the woodgrain. 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. 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. Hillenbrand, Inc. (HI) Stock Price, News, Quote & History - Yahoo Finance Dow Futures Hillenbrand, Inc. (HI) NYSE - NYSE Delayed Price. Paralegal. Hillenbrand Inc. has reached an agreement to sell its storied Batesville Casket Co. to an affiliate of a Connecticut-based private equity firm for $761.5 million. The company was founded on November 1, 2007 and is headquartered in Batesville, IN. About Us; BATESVILLE, Ind. 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. Baxter bought Hill-Rom in 2021. So, in my opinion, I see the city as being very successful. Hillenbrand is one of the. Employees: 177, union Total Square Footage: 197,816 Primary Product/Market: wood component parts for caskets Start-Up Date: 1975 Achievements: 55% reduction in cost of quality since 2006; 76% reduction in OSHA-recordable injury and illness cases in past three years; 2007 IndustryWeek Best Plants winner. In 2019, Hillenbrand officials told IBJ that Batesville Casket accounted for about one-quarter of the corporations sales and 40% of its cash flow. 1918 Continuing to innovate in casket design, the company introduces the original gasketed casket and first safety-sealed hardware. 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. 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. In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. batesville casket company stock is a stock broker that sells shares of stock on a stock exchange. We make the industrial equipment that molds possibilities for our future and delivers what's essential to sustain our tomorrow. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand's expectations and projections. Historical and current end-of-day data provided by FACTSET. Lilac Silver 18 Gauge Steel Casket $ 1,795.00 Athena Rose - 18 Gauge Steel Casket $ 1,595.00 White Cross 18 Gauge Steel Casket $ 1,595.00 Princeton 18 Gauge Steel Premium Casket $ 1,495.00 Spruce 18 Gauge Steel Casket $ 1,495.00 Royal Ebony 18 Gauge Steel Casket $ 1,595.00 Noble Blue Brush 18 Gauge Steel Casket $ 1,795.00 86% of retail CFD accounts lose money, https://www.prnewswire.com/news-releases/hillenbrand-announces-divestiture-of-batesville-casket-company-accelerating-transformation-301704086.html, Hillenbrand Annual Meeting Led by New Chairperson, Helen Cornell, Hillenbrand Declares Second Quarter Dividend of $0.22 Per Share, Hillenbrand FQ1 results mixed, co raises FY 2023 adj. Solid Mahogany Batesville Paragon Mahogany. 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. Pearl velvet interior. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. STAMFORD, Conn., December 15, 2022--(BUSINESS WIRE)--LongRange Capital ("LongRange"), a private investment firm with a longer-term orientation to building and growing middle market businesses, announced that it has entered into a definitive agreement to acquire Batesville Casket Company ("Batesville"), a leading provider of quality death care products and services as well as innovative technology solutions. Market Cap Scenario of Split Based on March 2020 Revenue Contribution. It is a broker that is regulated by the Securities and Exchange Commission. All quotes are in local exchange time. As a result, some of the services that Batesville has provided over the years are now needed by the city, and not just the city.
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