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October 16, 2025
Lone Star Funds to Acquire Hillenbrand Inc. in $3.8 Billion Deal, Taking the Company Private
Lone Star Funds to Acquire Hillenbrand Inc. in $3.8 Billion Deal, Taking the Company Private
Hillenbrand Inc., based in Batesville, Indiana, announced it will be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $3.8 billion. The agreement, set at $32 per share, represents a 37% premium over Hillenbrand’s August 12, 2025, closing price and a 53% premium over its 90-day volume-weighted average.
The acquisition highlights Lone Star’s intent to expand its footprint in plastics processing and industrial equipment, building on Hillenbrand’s strong position through its Advanced Process Solutions and Molding Technology Solutions divisions. Hillenbrand serves key industries including plastics, recycling, food, and pharma with engineered systems and aftermarket services that boost efficiency and productivity.
Over recent years, Hillenbrand has sharpened its focus, transforming into a dedicated industrial technology provider. “We are pleased to reach this agreement with Lone Star, which delivers immediate and certain cash value to our shareholders at a substantial premium to recent trading,” said Helen Cornell, Hillenbrand’s board chairperson. “The board carefully reviewed a range of potential strategic alternatives and determined that this transaction is in the best interest of Hillenbrand and its shareholders.”
CEO Kim Ryan added, “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. Lone Star recognizes this progress and sees a bright future, given our successful leading businesses and strong teams.”
Donald Quintin, CEO of Lone Star, stated, “We are excited to partner with Hillenbrand, a high-quality operator in the industrial equipment sector.”
The deal, unanimously approved by Hillenbrand’s board, is expected to close by the first quarter of 2026, after which the company will become privately held. Learn more about this topic here.
The acquisition highlights Lone Star’s intent to expand its footprint in plastics processing and industrial equipment, building on Hillenbrand’s strong position through its Advanced Process Solutions and Molding Technology Solutions divisions. Hillenbrand serves key industries including plastics, recycling, food, and pharma with engineered systems and aftermarket services that boost efficiency and productivity.
Over recent years, Hillenbrand has sharpened its focus, transforming into a dedicated industrial technology provider. “We are pleased to reach this agreement with Lone Star, which delivers immediate and certain cash value to our shareholders at a substantial premium to recent trading,” said Helen Cornell, Hillenbrand’s board chairperson. “The board carefully reviewed a range of potential strategic alternatives and determined that this transaction is in the best interest of Hillenbrand and its shareholders.”
CEO Kim Ryan added, “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. Lone Star recognizes this progress and sees a bright future, given our successful leading businesses and strong teams.”
Donald Quintin, CEO of Lone Star, stated, “We are excited to partner with Hillenbrand, a high-quality operator in the industrial equipment sector.”
The deal, unanimously approved by Hillenbrand’s board, is expected to close by the first quarter of 2026, after which the company will become privately held. Learn more about this topic here.
October 27, 2025
IAC Group Announces Temporary Layoffs at Michigan Facilities Amid Reduced Demand
IAC Group Announces Temporary Layoffs at Michigan Facilities Amid Reduced Demand
International Automotive Components Group (IAC) has announced plans to lay off 246 employees across two of its Michigan facilities, citing a slowdown in cyclical demand. The company disclosed the cuts in Worker Adjustment and Retraining Notification (WARN) filings submitted to Michigan’s Department of Labor and Economic Opportunity on October 8, 2025.
According to the notices, 178 positions will be cut at IAC’s Mendon plant and 68 positions at its Alma facility. Most of the affected employees in Mendon are general laborers, accounting for 129 of the 178 layoffs, while the Alma site will see reductions among molding and finishing operators.
“IAC Group has informed employees at our manufacturing site in Mendon that we will curtail operations beginning December 2025 to adjust to lower cyclical demand,” wrote Jessica Eyster, Human Resources Manager at IAC Mendon. “We are actively collaborating with the local union to support those affected by this action, which we anticipate will be temporary.”
A similar filing from Dawn McGourty, HR Manager at IAC Alma, noted, “We look forward to recalling employees as production requirements increase.”
The layoffs are expected to take effect on or about December 8, 2025. Some employees may exercise bumping rights under their respective union agreements. Workers at the Mendon plant are represented by UAW Local 503, while employees at Alma fall under USW Local 2-540.
IAC emphasized that the adjustments are part of a temporary response to market fluctuations, with the intent to recall employees once production levels rebound. Learn more about this topic here.
According to the notices, 178 positions will be cut at IAC’s Mendon plant and 68 positions at its Alma facility. Most of the affected employees in Mendon are general laborers, accounting for 129 of the 178 layoffs, while the Alma site will see reductions among molding and finishing operators.
“IAC Group has informed employees at our manufacturing site in Mendon that we will curtail operations beginning December 2025 to adjust to lower cyclical demand,” wrote Jessica Eyster, Human Resources Manager at IAC Mendon. “We are actively collaborating with the local union to support those affected by this action, which we anticipate will be temporary.”
A similar filing from Dawn McGourty, HR Manager at IAC Alma, noted, “We look forward to recalling employees as production requirements increase.”
The layoffs are expected to take effect on or about December 8, 2025. Some employees may exercise bumping rights under their respective union agreements. Workers at the Mendon plant are represented by UAW Local 503, while employees at Alma fall under USW Local 2-540.
IAC emphasized that the adjustments are part of a temporary response to market fluctuations, with the intent to recall employees once production levels rebound. Learn more about this topic here.
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