Lone Star Funds is nearing an agreement to acquire Hillenbrand Inc, the US plastics parts and industrial processing company, according to a report by Bloomberg citing people familiar with the matter.
The sources said the deal could be announced within days, though talks are still ongoing and may yet be delayed or collapse.
Hillenbrand, based in Batesville, Indiana, produces plastic parts and equipment for companies in the automotive, packaging, construction, and electronics industries. Its customers include Dow and General Mills. The firm’s shares closed on Tuesday at $26.49, valuing it at around $1.87bn.
Over recent years, Hillenbrand has repositioned its portfolio, selling its casket unit in 2023 and expanding into industrial processing, a progression that underscores its evolving strategy ahead of the potential take-private deal. Lone Star invest across private equity, credit and real estate, with assets under management of around $95bn.
