Astec Industries Acquires Minority Stake in TerraSource Holdings from Hillenbrand

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.

Lone Star Funds Acquires Hillenbrand, Inc.

February 10, 2026

Manufacturing

An affiliate of Lone Star Funds has completed the previously announced all-cash acquisition of Hillenbrand, Inc. for an enterprise value of approximately $3.8 billion. The transaction takes Hillenbrand private (its common stock will be delisted) and Lone Star will partner with Hillenbrand's management to execute strategic growth and operational plans.

TerraVest Industries Acquires EnTrans International

March 17, 2025

Manufacturing

TerraVest Industries Inc. has acquired EnTrans International, a North American manufacturer of tank trailers and specialty transportation equipment, for US$546 million plus up to US$46 million in contingent earn-out. The acquisition adds manufacturing capacity and complementary product lines (Heil, Polar, Kalyn Siebert, Jarco) across the United States, Mexico and Thailand and is intended to expand TerraVest's capabilities, cross-selling opportunities and geographic diversification.

Astorg Acquires Majority Stake in Steliau

February 26, 2024

Industrial Services

Astorg, a European private equity firm, has signed an agreement to acquire a majority stake in Steliau, a pan-European value-added distributor (VAD) of electronic solutions, from B&Capital. Steliau, founded in 1992 and headquartered in Montrouge, France, employs more than 200 people across eight countries and will partner with Astorg to accelerate organic growth and execute a buy-and-build strategy.

TerraSource Global Acquires Elgin Separation Solutions

January 12, 2023

Manufacturing

TerraSource Global, a manufacturer of material processing equipment and subsidiary of Right Lane Industries, has acquired Elgin Separation Solutions effective January 12, 2023. The acquisition adds Elgin’s liquid/solid separation, centrifuge and dewatering capabilities to TerraSource’s portfolio, expanding its offering across mining, recycling, water, food and oil & gas end markets.

H.I.G. Capital Acquires Terra Millennium Corporation

May 26, 2022

Industrial Services

H.I.G. Capital (through an affiliate) signed a definitive agreement to acquire Terra Millennium Corporation, a national provider of outsourced industrial maintenance services headquartered in Salt Lake City, Utah. The transaction — previously backed by Court Square Capital Partners — positions Terra Millennium to accelerate geographic expansion, broaden its service offerings and pursue add-on acquisitions under H.I.G.'s ownership; the deal was expected to close in Q2 2022.