Lone Star Funds Affiliate Acquires Hillenbrand in $3.8 Billion All-Cash Deal
February 10, 2026
Lone Star Funds, through an affiliate, completed the previously announced all-cash acquisition of Hillenbrand, Inc. in a transaction valued at approximately $3.8 billion (about $32 per share). Following closing, Hillenbrand’s common stock ceased trading and the company will operate as a privately held business under the Hillenbrand name.
- Buyers
- Lone Star Funds, Lone Star Americas Acquisitions, Inc.
- Targets
- Hillenbrand, Inc.
- Sellers
- group of shareholders
- Industry
- Industrial Services
- Location
- Indiana, United States
- Transaction Type
- Buyout
Explore More
Related Acquisitions
-
Astec Industries Acquires Minority Stake in TerraSource Holdings from Hillenbrand
July 1, 2025
Manufacturing
Astec Industries has acquired Hillenbrand’s minority stake in TerraSource Holdings in a transaction valued at approximately $245 million. Hillenbrand received about $115 million from the sale, which it will use to pay down debt; the divestiture was completed July 1, 2025.
-
Lone Star Funds Acquires SPX FLOW (SPX FLOW acquisition)
April 5, 2022
Industrial Services
SPX FLOW agreed to be acquired by an affiliate of Lone Star Funds in an all-cash transaction valued at $3.8 billion (including assumed debt). The deal successfully closed in April 2022, and SPX FLOW became privately held with its NYSE listing discontinued.
-
Hillenbrand Completes Acquisition of LINXIS Group
October 6, 2022
Industrial Services
Hillenbrand, Inc. completed its acquisition of LINXIS Group from an affiliate of IK Partners (IK VIII Fund) and additional sellers for total aggregate consideration of €596.2 million (enterprise value of ~€572 million plus cash acquired). The deal combines LINXIS’ ingredient automation and processing technologies with Hillenbrand’s food processing capabilities to deliver more comprehensive solutions and services for customers.
-
Lone Star Affiliate Acquires Titan Acquisition Holdings from Carlyle and Stellex
June 29, 2023
Industrial Services
An affiliate of Lone Star Funds has completed the acquisition of Titan Acquisition Holdings — the parent of Vigor Industrial LLC, MHI Holdings LLC and Continental Maritime of San Diego — from funds managed by The Carlyle Group and Stellex Capital Management. The transaction, first announced in February 2023, closed in mid-June 2023; financial terms were not disclosed. Titan is a bi-coastal leader in ship repair, marine and heavy fabrication serving U.S. government and commercial maritime customers.
-
Lone Star Funds Affiliate to Acquire Lonza Capsules & Health Ingredients Division
March 9, 2026
Healthcare Services
Lone Star Funds announced that an affiliate of Lone Star Fund XII, L.P. entered into a definitive agreement to acquire Lonza Group AG’s Capsules & Health Ingredients (CHI) division. As part of the deal, Lonza will retain a 40% equity position, and CHI is expected to operate as a standalone global platform focused on pharmaceutical, nutraceutical, and nutrition ingredients.
-
Right Lane Industries Acquires Majority Stake in TerraSource Global from Hillenbrand
October 25, 2021
Manufacturing
Hillenbrand completed the divestiture of its TerraSource Global business, contributing the business to newly formed TerraSource Holdings, LLC. Affiliated companies of Right Lane Industries (RLI) obtained majority ownership and operational control while Hillenbrand received a five‑year note with initial principal of $25.6 million and retained an indirect 49% ownership interest in the new Holdings entity.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.