"We will remain focused on serving our customers and look forward to working with LongRange Capital as our partner, and with Hillenbrand to ensure a smooth transition for our associates.". The company offers a wide selection of burial and cremation products, keepsakes, and business and technology solutions that serve the needs of families and licensed funeral professionals across North America. It is a broker that sells shares of stock on a stock exchange. Hillenbrand had announced on July 20, 2022, that its board was starting to look for "strategic alternatives" for the Batesville business, which started in 1884 as the Batesville Coffin Company before it was purchased by John A. Hillenbrand in 1906. It was. While Batesville provides a range of burial solutions and cremation options, the bulk of its revenue derives from the sale of caskets. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. Cremation, meanwhile, has been eating into casket sales. Hillenbrand sells casket business Batesville to LongRange Capital Dec. 15, 2022 at 7:44 a.m. The home health sector is one of the canaries in the coal mine of the effects of an aging population. When it comes eldercare, help is wanted but workers are scarce. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Caskets, Urns & Keepsakes - Batesville 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. The announcement of the deal with an affiliate of LongRange Capital provided no guidance on what impact the sale might have on Batesville Casket, its employees or its holdings in southeastern Indiana, the Indianapolis Business Journal reported. Trustpilot. Batesville Caskets Gallery | Batesville Caskets Gallery Were being punished after I remarried. Completing our transformation into a pure-play industrial company allows Hillenbrand to concentrate our investments into our APS and MTS segments, where we see strong growth potential, Hillenbrand CEO Kim Ryan said in written remarks.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.. 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. Thats also why I didnt want to give my opinion on it. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. Add To Cart. 7 Things About batesville casket company stock Your Boss Wants to Know Batesville is a recognized leader in excellence, innovation and service in the death care industry. . Batesville is a stock exchange. Have Watchlists? Privacy Notice | See below for our different market cap scenarios. A distinction is often made between coffin and casket: the latter . Caskets are delivered to more than 16,000 funeral homes daily using Batesville's own fleet of trucks. The company starts its Living Memorial program. Batesville Casket Company website. The negative consequences of having an out-of-state investment company as the owner of the Casket Co. operations does not equate to a long-term commitment nor short-term stability. About Hillenbrand | Shape What Matters For Tomorrow 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. 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. LifeStories caskets and medallions are added to the product offering, increasing the range of options for personalizing Batesville caskets. Furthermore, the split would have led to Batesville leaving the S&P SmallCap 600 in March 2020 as the criteria for inclusion required a minimum market cap of $600 million to remain in the SmallCap Index. If you have not registered, please sign up for a free account now. Gemini Monarch Blue Casket with Blue Crepe Interior- Metal Casket . When completed, this divestiture, coupled with the strategic acquisitionsof LINXIS Group, Herbold Meckesheim, Peerless Food Equipment, and Gabler Engineering in 2022, will mark a significant milestone in Hillenbrand's transformation, establishing Hillenbrand as a global industrial leader in highly engineered, mission-critical processing solutions. View Products For Families Find grief support and guidance on planning a funeral. Round end shell design. Valuation Matrix on Relative & SOTP Bases, Peer Comparison Matrix for the Advance Process & Molding Tech Solutions Segment, Peer Comparison Matrix for the Batesville Segment. 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. 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. All of us at . Batesville is looking for a Warehouse Associate (full-time) to join our team in Columbus, OH. BATESVILLE, Ind. Finally, the management are no strangers to value creation from Spinoffs. Hillenbrand and Batesville intend to keep their headquarters in Greater Cincinnati. 2023 SwingTradeBot. Paralegal Job Batesville Indiana USA,Law/Legal Join us for an evening of networking designed especially for real estate professionals. Intraday data delayed at least 15 minutes or per exchange requirements. In essence, Batesville saw their margins drop to about 24.9% of sales " primarily due to inflation, including higher transportation premiums, and the impact of lower volume, which more than offset the impact of higher average selling . ", "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. For example, police and fire departments, as well as a lot of health care costs. For the best MarketWatch.com experience, please update to a modern browser. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. 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. Batesville Casket History: Founding, Timeline, and Milestones BATESVILLE, Ind. Privacy Notice | It is the largest casket manufacturer in USA, but also sells funeral urns and other funeral products. Hillenbrand is one of the. It was the first company to develop and mass-produce steel caskets. -- 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. Batesville Casket Co. is a leading provider of death care products and services. Beginning healing. Batesville Casket Company, Inc. manufactures metal and hardwood burial caskets. 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. Batesville casket sales, margins both drop - Funeral Director Daily Do Not Sell or Share My Personal Information. Hillenbrand has a direct presence in 3 countries. Net proceeds from the sale are expected to be used for debt reduction. As well as sadness. Caskets | Overnight Caskets Create a list of the investments you want to track. Sort by: Aegean Bronze . Batesville Casket Company is looking for a Maintenance Associate (2nd shift) to join our team in Batesville, IN. Hillenbrand is the 18th-largest public company in Indiana based on its 2021 revenue of $2.9 billion, according to research by the Indianapolis Business Journal. Batesville Casket may also be known as or be related to Batesville Casket, Batesville Casket Co, Batesville Casket Company and Batesville Casket Inc. Zippia. Our history of manufacturing excellence, product innovation, superior customer service, and reliable distribution spans more than a century. 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. ET by Steve Gelsi Hillenbrand Sells Batesville Casket Business for $761.5 Million Dec. 15, 2022. batesville casket company stock includes essentials like mortuary equipment, funeral equipment, and even some affordable options . Every day the world lives, works, plays, travels, eats, and heals because of what we do at 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," said Bob Berlin, Managing Partner at LongRange. Job specializations: Law/Legal. A coffin is a funerary box used for viewing or keeping a corpse, either for burial or cremation. Aegean Copper . For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussion under the heading "Risk Factors" in Part I, Item 1A of Hillenbrand's Form 10-K for the year ended September 30, 2022, filed with the Securities and Exchange Commission ("SEC") on November 16, 2022. 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. How to Solve pii_email_4bd3f6cbbb12ef19daea Error. Aurora Casket Company, Inc. - Company Profile, Information, Business With a stock market that has taken a bashing, companies need to think of their shareholders as the economy tightens its belt and further consider how they are going to offer value for the holders of their stock. Explore one of our most. There are currently no items in this Watchlist. Since then, more than 14.5 million trees have been planted under this program. However, our Sum-of-the-parts target price comes to around $78.99, which implies a potential upside of +70%. 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. Beginning in its fiscal 2023 first quarter, Hillenbrand expects to classify the Batesville business as "held for sale" and anticipates it will report results of the Batesville business as discontinued operations for the current and historical periods in Hillenbrand's consolidated financial statements. Batesville | LinkedIn Copyright 2023 MarketWatch, Inc. All rights reserved. Batesville Casket Co Inc - Company Profile and News - Bloomberg Markets Bloomberg Terminal Demo Request Bloomberg Connecting decision makers to a dynamic network of information, people. 598 Total Views. Batesville Caskets - FrontRunner Pro Batesville, Indiana 47006 Phone 1 812 934-7000 Industry Industrial Machinery Sector Industrial Goods Fiscal Year-end 01/0002 Revenue $2.94B Net Income $208.9M 2022 Sales Growth N/A Employees N/A. You'll love the new Dryden Brown featuring a beautiful, warm satin finish that highlights the woodgrain. The next major story for Hillenbrand will be moving their HQ location out of the state. Founded in 1884, Batesville (commonly referred to as the . Plush casket interiors are introduced for the first time. Over the last two years, the management at Hillenbrand, Inc. have continued to progress with the transition away from just selling caskets in the death care business to becoming a large diversified industrial company. Founded in 1884, Batesville has a long track record of creating and delivering quality funeral products and solutions. Credit Suisse served as lead financial advisor to LongRange Capital and TD Securities also served as financial advisor. More info / Customize. At CasketSite.com we offer Batesville Caskets direct to you, at our guaranteed wholesale prices. In that report, that you can read here, they reported that the Batesville segment produced revenue of $623 million for the year. Batesville Casket Co.-Vicksburg Operations, Vicksburg, Miss. Listing for: Batesville Casket Company. In fact, close to 55% of all funerals in the US currently are cremations. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. 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. Batesville Casket's parent company, Hillenbrand Industries, reported Fiscal Year 2021 and FY 4th Quarter 2021 results last week. 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. Cremation Stocks List for 2023 | NYSE, NASDAQ & AMEX As a Warehouse Associate you will be responsible for. Greenberg Traurig, LLP acted as legal counsel to LongRange. Based on the above scenario, a 73%-27% split would lead above the minimum $850 million market cap needed for BATES to stay in the S&P SmallCap 600 Index and will also give a leverage of 2x, which is less than the combined Parents 2.3x.