Hillenbrand being acquired by Lone Star Funds

Industrial company Hillenbrand Inc. – which owns several manufacturers of plastics processing technology, including Coperion, Herbold Meckesheim, Mold-Masters, DME, and Tirad – is being bought by an affiliate of private equity firm Lone Star Funds in an all-cash transaction with an enterprise value of US$3.8 billion.

Hillenbrand’s plastics processing equipment is offered through its business segments called Advanced Process Solutions and Molding Technology Solutions.

In an Oct. 15 news release, Hillenbrand officials said the company has been focused on repositioning itself over the past three years, strengthening and streamlining its portfolio through strategic acquisitions and divestitures and building out its industrial food equipment portfolio. Last year, Hillenbrand sold a DME facility in Windsor, Ont.; and earlier this year, it sold most of its Milacron injection molding and extrusion machinery business to an affiliate of Bain Capital for US$287 million.

“Over the past several years, Hillenbrand has made tremendous progress transforming into a pure-play industrial company, reshaping our portfolio, and making strategic investments in the business,” Hillenbrand president and CEO Kim Ryan said in the release. “Lone Star recognizes this progress and sees a bright future, given our successful leading businesses and strong teams. We look forward to working with Lone Star to enhance our scale, create opportunities for our associates, and continue to drive growth and innovation within the durable plastics, food and recycling end markets.”

The transaction is expected to close by the end of the first quarter of calendar year 2026.