In March 2020, HI was a $1.4 billion Market Cap ($3.1 billion EV) company. From 2020 to 2021, HIs stock price went from as low as $14.29 (March 18, 2020) to over $45 by the end of February 2021. . Manufacturing/Operations 1 day ago New Paralegal Batesville, Indiana, USA Something went wrong while loading Watchlist. Batesville 15,765 followers 3mo Like the Dryden casket? Gemini Monarch Blue Casket with Blue Crepe Interior- Metal Casket . Hillenbrand, Inc. engages in designing, manufacturing, and servicing highly engineered and mission-critical equipment and solutions to the customers. Batesville introduces the MemorySafe drawer as a customization option. -- Hillenbrand Inc. said Thursday that it has reached an agreement to sell its Batesville Casket Co. subsidiary the largest producer of caskets in the U.S. to an affiliate of a Connecticut-based private equity firm for $761.5 million. 1954 To learn more, visit: www.Hillenbrand.com. Privacy Notice | Solid Mahogany Batesville Paragon Mahogany. Copyright 2023 MarketWatch, Inc. All rights reserved. The companys announcement provided no guidance on what impact the sale might have on Batesville Casket Co., its employees or its holdings in southeastern Indiana. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Throughout this release, we make a number of "forward-looking statements," including statements regarding the proposed sale of our Batesville business (the "Proposed Transaction") and the expected timing, costs and benefits thereof, that are within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and that are intended to be covered by the safe harbor provided under these sections. The company announced the deal Thursday morning, a move that would result in the selling off of the business and brand that served as the roots for the larger Hillenbrand company in Batesville starting in 1884 and would grow to become the nations largest casket maker. They have favorites that can do as they please, walk around or just hide. The absence of any of these words, however, does not mean that the statement is not forward-looking. Turn on desktop notifications for breaking stories about interest? 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. Finally, the management are no strangers to value creation from Spinoffs. I really dont have much time to write this, but I was having a really interesting discussion with a friend about the state of Batesville, and what we think is the most interesting thing about it. The company was founded on November 1, 2007 and is headquartered in Batesville, IN. Batesville (BATES) derives 89% of its business from the sale of caskets, whereas its peers have a mixture of casket sales and funeral services, and we believe the services business is helping. The firms investment professionals have a long track record of demonstrated success and collectively bring 50+ years of investing experience. 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. Were being punished after I remarried. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The first embroidered designs for casket interiors are created and launched, lending a more personal touch to Batesville caskets. Do Not Sell or Share My Personal Information. Hillenbrand has 6 subsidiaries including Batesville Casket Company, Coperion and Milacron. 2023 SwingTradeBot. Copyright 2023 MarketWatch, Inc. All rights reserved. Antique Blue . 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. Valuation Matrix on Relative & SOTP Bases, Peer Comparison Matrix for the Advance Process & Molding Tech Solutions Segment, Peer Comparison Matrix for the Batesville Segment. The company owns its current headquarters building, filings state. Presence. Log in to see them here or sign up to get started. 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Theranoss Elizabeth Holmes gives birth to second baby, pushes to delay starting her 11-year prison term, Elon Musks bid to implant chips into human brains shot down by FDA. It has been known as the Batesville Casket Company ever since. The Company offers cremation urns, containers, and other related products. Founded in 1884, Batesville has a long track record of creating and delivering quality funeral products and solutions. In 2019, Hillenbrand officials told IBJ that Batesville Casket accounted for about one-quarter of the corporations sales and 40% of its cash flow. In that report, that you can read here, they reported that the Batesville segment produced revenue of $623 million for the year. This browser is no longer supported at MarketWatch. The forward-looking information in this release speaks only as of the date hereof, and we assume no obligation to update or revise any forward-looking information. Ms. Ryan has been on the board of a company that previously performed a Spinoff. It was. ", "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. . Batesville Coffin Company is founded in Batesville, Indiana. We are the engineers, the manufacturers, the makers, the shapers. Batesville Casket Company TCC - Thacker Casket Co mpany TGL - Triangle Casket Co mpany WLW - Watts Line of Woods WRC - Warfield -Rohr Casket Company - Denotes that casket is located in selection room. Batesville Casket Co. is a leading provider of death care products and services. BATESVILLE, Ind. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. The following is all from our March 31, 2022, report with some recent updates and is available on request. Some locations may deliver sooner than 3 business days. More info / Customize. 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. Fortune 500 (#860); Russell 3000. A coffin about to be lowered at a funeral service in a cemetery. Cremation. Funeral homes often have high prices for the workmanship and quality of these brand name caskets. A distinction is often made between coffin and casket: the latter . Our history of manufacturing excellence, product innovation, superior customer service, and reliable distribution spans more than a century. It is a city that some of the same people who work in the banks, the same people who run the banks, have been involved in the economy of the city from the beginning. "We look forward to building upon our track record of performance, enabled by consistent deployment of the Hillenbrand Operating Model to drive profitable growth and deliver long-term value to our shareholders. Greenberg Traurig, LLP acted as legal counsel to LongRange Capital. Founded in 1884 as the Batesville Coffin Company, Batesville was purchased by John A. Hillenbrand in 1906, when it became the Batesville Casket Company. Cremation, meanwhile, has been eating into casket sales. 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). If we assume management decides to assign enough debt on BATES that the leverage trades in-line with peers (around 3.7x), this requires a debt distribution in the ratio of 51%-49% for Advanced Process Solutions & Molding Tech Solutions and BATES, respectively. Intraday data delayed at least 15 minutes or per exchange requirements. First nationwide distribution system, allowing the fast, reliable delivery across the country. Credit Suisse served as lead financial advisor to LongRange Capital and TD Securities also served as financial advisor. For the best MarketWatch.com experience, please update to a modern browser. Aegean Copper . 598 Total Views. 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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. This transaction is expected to close in the first calendar quarter of 2023, subject to regulatory approvals and other customary closing conditions. For more information, please visit www.longrangepartners.com. We create opportunities to help families understand the value of meaningful funerals and honoring their loved ones with a personalized tribute. Batesville Caskets Gallery | Batesville Caskets Gallery Home Select Page 18 GAUGE CRYSTAL BLUE 18 GAUGE PRIMROSE 18 GAUGE SEALER MIDNIGHT SILVER 20 GAUGE GEMINI WHITE 20 GAUGE SEALER CARNATION MIST 20 GAUGE SEALER SILVER EBONY 20 GAUGE STAR SILVER 700 MASTERPIECE MAHOGANY CLASSIC GOLD 48 OZ.