Hillenbrand Acquires Schenck Process Food and Performance Materials (FPM)
June 20, 2023
Hillenbrand, Inc. agreed to acquire the Schenck Process Food and Performance Materials (FPM) business from Blackstone for an enterprise value of approximately $730 million. Headquartered in Kansas City, Missouri, FPM has over 1,300 employees and is expected to generate about $540 million of 2023 revenue and $68 million of EBITDA; the deal is expected to close in Hillenbrand's fiscal fourth quarter of 2023 subject to regulatory approvals.
- Buyers
- Hillenbrand, Inc.
- Targets
- Schenck Process Food and Performance Materials (FPM)
- Sellers
- Blackstone
- Industry
- Industrial Services
- Location
- Missouri, United States
- Transaction Type
- Buyout
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