Lone Star Completes Acquisition of Hillenbrand

Rhea-AI Summary

Hillenbrand (NYSE: HI) has been acquired by an affiliate of Lone Star Funds in an all-cash deal valuing the company at approximately $3.8 billion enterprise value. The acquisition, announced Oct. 15, 2025 and approved by shareholders Jan. 8, 2026, is now complete and Hillenbrand common stock has ceased trading and will be delisted from the NYSE. Hillenbrand will continue to operate under its name and management said it will execute strategic plans with Lone Star to serve customers and pursue growth.

Positive

• All-cash transaction provides immediate liquidity to shareholders
• $3.8 billion enterprise value signals strategic investor commitment
• Continued operations under the Hillenbrand name with management in place

Negative

• Delisting from NYSE removes public trading and reduces shareholder liquidity
• Loss of public-market transparency as reporting requirements will change

Key Figures

Enterprise value: $3.8 billion Cash offer price: $32.00 per share Premium to unaffected price: 37% +4 more

7 metrics

Enterprise value $3.8 billion Total value of Lone Star acquisition of Hillenbrand

Cash offer price $32.00 per share Consideration to Hillenbrand shareholders upon closing

Premium to unaffected price 37% Premium to unaffected close on August 12, 2025

Premium to 90-day VWAP 53% Premium to 90-day VWAP ending August 12, 2025

Votes for merger 58,533,478 Shares voting in favor of merger on Jan 8, 2026

Votes against merger 353,769 Shares voting against merger on Jan 8, 2026

Abstentions on merger 47,809 Shares abstaining on merger vote Jan 8, 2026

Market Reality Check

Price: $31.98 Vol: Volume 3,258,909 is 3.09x...

high vol

$31.98 Last Close

Volume Volume 3,258,909 is 3.09x the 20-day average of 1,053,651, reflecting elevated trading into deal close. high

Technical Price at $31.98 is slightly below the $32.00 cash offer and trading above the 200-day MA at $26.25.

Peers on Argus

Peers show small, mixed moves (e.g., GRC +0.64%, NNE -1.11%), while HI sits flat...

Peers show small, mixed moves (e.g., GRC +0.64%, NNE -1.11%), while HI sits flat at the cash offer level, indicating a stock-specific, deal-driven situation.

Previous Acquisition Reports

2 past events · Latest: Jan 08 (Positive)

Same Type Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Jan 08	Shareholder approval	Positive	-0.1%	Shareholders approve Lone Star acquisition and confirm $32.00 per share cash payout.
Oct 15	Deal announcement	Positive	+18.2%	Initial agreement for Lone Star to acquire Hillenbrand for $32.00 per share in cash.

Pattern Detected

Acquisition headlines previously produced one sharp positive reaction and one flat-to-slightly-negative move, suggesting the deal was mostly priced in after the initial announcement.

Recent Company History

Over recent months, Hillenbrand’s trajectory has been dominated by its sale to Lone Star. On Oct 15, 2025, the company agreed to an all-cash buyout at $32.00 per share and a $3.8B enterprise value, which drove a strong positive price reaction. Shareholders later approved the transaction on Jan 8, 2026 with overwhelming support. Today’s completion of the acquisition and planned NYSE delisting follow directly from these earlier milestones.

Historical Comparison

acquisition

+9.1 %

Average Historical Move

Historical Analysis

Past acquisition headlines for HI produced an average move of about 9.07%, with the initial deal announcement driving most of the reaction while later steps had minimal impact.

Typical Pattern

The acquisition progressed from the initial agreement on Oct 15, 2025, to shareholder approval on Jan 8, 2026, and now to closing and NYSE delisting under Lone Star ownership.

Market Pulse Summary

This announcement confirms the closing of Hillenbrand’s sale to Lone Star at $32.00 per share, valui...

Analysis

This announcement confirms the closing of Hillenbrand’s sale to Lone Star at $32.00 per share, valuing the company at about $3.8 billion and ending its NYSE listing. Earlier milestones included the initial agreement and strong shareholder approval. Investors following the story may focus on how final terms compare with prior expectations and on transition risks tied to going private and ceasing public-market trading.

Key Terms

enterprise value, all-cash transaction

2 terms

enterprise value financial

"an all-cash transaction with a total enterprise value of approximately $3.8 billion."

Enterprise value is the total worth of a company, reflecting what it would cost to buy the entire business. It includes the company's market value plus any debts, minus its cash holdings, offering a comprehensive picture of its true value. Investors use it to compare companies regardless of their capital structures, helping them assess how much they would need to pay to acquire the business.

all-cash transaction financial

"has completed the previously announced acquisition of Hillenbrand in an all-cash transaction"

An all-cash transaction is a deal where the full purchase price is paid immediately in cash or cash equivalents, rather than through financing or installment payments. For investors, this type of transaction often indicates a quick, straightforward sale and can signal confidence from the buyer, potentially affecting the value and perception of the involved assets.

AI-generated analysis. Not financial advice.

BATESVILLE, Ind., Feb. 10, 2026 /PRNewswire/ -- Hillenbrand, Inc. ("Hillenbrand" or the "Company"), a leading provider of highly-engineered, mission-critical processing equipment and solutions, and Lone Star Funds ("Lone Star") today announced that an affiliate of Lone Star has completed the previously announced acquisition of Hillenbrand in an all-cash transaction with a total enterprise value of approximately $3.8 billion.

"With the close of this transaction, we now continue to build upon the momentum that is already underway and will execute our strategic plans with Lone Star," said Kim Ryan, President and CEO of Hillenbrand. "We are focused on continuing to serve our customers and deliver growth together with Lone Star. I am grateful for the dedication of all our associates and remain confident in our ability to deliver differentiated, customer-centric solutions around the world."

"We are thrilled to reach this milestone and look forward to partnering with Hillenbrand's management team," said Donald Quintin, Chief Executive Officer of Lone Star. "Hillenbrand is well-positioned to drive growth and innovation with our investment in the business."

The transaction was announced on October 15, 2025, and approved by Hillenbrand's shareholders at the Company's Special Meeting of shareholders on January 8, 2026. With the completion of the acquisition, Hillenbrand's common stock has ceased trading and will be delisted from the New York Stock Exchange. The Company will continue to operate under the Hillenbrand name.

About Hillenbrand

Hillenbrand is a global industrial company that provides highly-engineered, mission-critical processing equipment and solutions to customers around the world. Our portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by our Purpose — Shape What Matters For Tomorrow™ — we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our people, our customers, and our communities. To learn more, visit: www.Hillenbrand.com.

About Lone Star

Lone Star is a leading investment firm with its principal office in London, UK advising funds that invest globally in private equity, credit and real estate. The firm has been successfully navigating complex situations for over 30 years. The funds are experienced value investors that seek opportunities in situations that are in flux or complicated by specific structural or financial factors, regardless of the prevailing market environment. Our deep bench of senior leaders and expert deal professionals ensures a strong foundation for successful investments and strategic decision-making. Since the establishment of its first fund in 1995, Lone Star has organized 25 private equity funds with aggregate capital commitments totaling approximately $95 billion. For more information regarding Lone Star Funds, go to www.lonestarfunds.com. Follow us on LinkedIn.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lone-star-completes-acquisition-of-hillenbrand-302683798.html

SOURCE Hillenbrand

FAQ

What did Lone Star announce regarding the acquisition of Hillenbrand (HI) on Feb. 10, 2026?

Lone Star completed an all-cash acquisition of Hillenbrand for about $3.8 billion. According to the company, the transaction closed after shareholder approval on Jan. 8, 2026 and the stock has ceased trading on the NYSE.

Will Hillenbrand (HI) remain an operating company after the Lone Star acquisition?

Yes, Hillenbrand will continue operating under the Hillenbrand name with its management team. According to the company, Lone Star will partner with management to execute strategic plans and pursue customer-focused growth.

What happens to Hillenbrand (HI) shares after the Feb. 10, 2026 closing?

Hillenbrand common stock has ceased trading and will be delisted from the New York Stock Exchange. According to the company, shareholders received the agreed all-cash consideration per the merger terms.

How much was the enterprise value for Lone Star's purchase of Hillenbrand (HI)?

The acquisition carried an enterprise value of approximately $3.8 billion. According to the company, the deal was completed in an all-cash transaction reflecting Lone Star's investment thesis for the business.

When was the Hillenbrand (HI) acquisition by Lone Star announced and approved by shareholders?

The transaction was announced on Oct. 15, 2025 and approved at a Special Meeting on Jan. 8, 2026. According to the company, these milestones preceded the Feb. 10, 2026 closing.