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Increase in cremation is killing the casket business. Forward-looking statements are based on assumptions that we believe are reasonable, but by their very nature are subject to a wide range of risks. 2023 SwingTradeBot. 2009 Assembly Plant of the Year: Lean Lives at Batesville Casket Co. 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. However, our Sum-of-the-parts target price comes to around $78.99, which implies a potential upside of +70%. News at Batesville Casket Company - The Official Board Law Clerk, Paralegal, Legal Assistant. It operates through the following segments: Advanced Process Solutions, Molding Technology Solutions and Batesville. It has many businesses in the industrial sector that complement quite nicely together. 7. 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. She was a board member of Kimball International Over the last two years, the management at Hillenbrand BATESVILLE, Ind. The Molding Technology Solutions segment includes engineered and customized equipment, systems, and services in plastic technology and processing. Coffin Stocks List for 2023 | NYSE, NASDAQ & AMEX "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.". Create a list of the investments you want to track. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Sorry, we have detected unusual traffic from your network. - A private investment firm will buy an Indiana business that's been making caskets in Indiana since the 19th century. Add To Cart. "We are excited to mark this important milestone for Batesville, and to work closely with LongRange as we position the business for its next chapter.". However, trends toward cremation were slowly shrinking sales. Upon completion of Hillenbrand's divestiture of its Batesville business, Hillenbrand and Batesville will both remain headquartered in Batesville, Indiana. Batesville Archives - Affordable Casket Company Founded in 1884 as the Batesville Coffin Company, Batesville was purchased by John A. Hillenbrand in 1906, when it became the Batesville Casket Company. Batesville 16 Gauge Batesville 18 Gauge Batesville Bronze & Copper Batesville Hardwood Oversized Eco Friendly Cremation Hero & Military Vault New Arrivals On Sale Uncategorized Color LongRange's acquisition of Batesville, from Hillenbrand, Inc. (NYSE: HI), a global industrial company, is expected to close in the first quarter of 2023, subject to regulatory approval and other . The company launches its Options cremation line. Thats also why I didnt want to give my opinion on it. All quotes are in local exchange time. Historical and current end-of-day data provided by FACTSET. For more information, please visit www.longrangepartners.com. After thorough review, it was determined that the divestiture of the Batesville business is in the best interests of Hillenbrand and its shareholders. HI Stock Quote - Stock Price Today . -- 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. Currently, BATES is expected to report a margin of around 20%-21% for FY22E, primarily through selling caskets. View source version on businesswire.com: https://www.businesswire.com/news/home/20221215005565/en/, Brian Ruby, ICR, 203-682-8268, brian.ruby@icrinc.com, https://www.businesswire.com/news/home/20221215005565/en/, Soccer-Traore on target as Wolves stun wasteful Spurs, Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, UPDATE 1-Bankman-Fried can have flip phone, limited internet while on bail, US proposes, China's economy, government revamp in focus as parliament set to open, The U.S. government is turning up the heat on TikTok here's the latest. Greenberg Traurig, LLP acted as legal counsel to LongRange. View Products For Families Find grief support and guidance on planning a funeral. 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. The company starts its Living Memorial program. Casket maker evolves into major manufacturer - USA TODAY BREAKING: Hill-Rom being purchased by Baxter in $10.5 Billion cash deal 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. Full Time position. With industry-leading brands in its Advanced Process Solutions (APS) and Molding Technology Solutions (MTS) segments, Hillenbrand is well-positioned to accelerate long-term growth in attractive end markets including plastics, food, and recycling, all of which are expected to benefit from secular macroeconomic growth trends. Hillenbrand seems an obvious candidate for hidden value release. It has 10,500 employees globally and in 2021, it reported that 6,500 of its employees were located in Indiana. Shareholders, potential investors, and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. Hillenbrand (NYSE: HI) is a global industrial company operating in over 40 countries with over 10,000 associates serving a wide variety of industries around the world. The company said the casket company's sale, coupled with its acquisitions of LINXIS Group, Herbold Meckesheim, Peerless Food Equipment and Gabler Engineering, will mark a significant milestone for Hillenbrand, establishing it as a global industrial leader in highly engineered processing solutions and plastics molding. 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. However, a lot has happened between then and now that has made a Spinoff of the casket segment even more compelling. With annual revenues of nearly $600 million, Batesville is the clear leader, providing a comprehensive portfolio of burial and cremation products, memorialization offerings, profit-enhancing merchandising systems, and leading-edge technology designed to help funeral directors succeed. The company was founded on November 1, 2007 and is headquartered in Batesville, IN. Today, Batesville is a leading provider of quality products and business solutions in the death care industry, offering the widest selection of burial and cremation products, memorial keepsakes and business and technology solutions that meet the changing needs of families and licensed funeral professionals across North America. This was made clear in HIs most recent transcript (Feb 3, 2022), where the management said that our next strategic pillar is to manage Batesville for cash.. batesville casket company stock is a stock broker that sells shares of stock on a stock exchange. However, when asked about the long-term shift towards cremation (as peers have been), this topic is never fully explored, and the management highlighted a slight decrease in the revenues was due to an increase in families opting for cremation. Its a city that has a huge amount of history and a very little reason for it, and its always been that way. This browser is no longer supported at MarketWatch. They pivoted back in like 2008 if you buy an Urn in Indiana it is likely from them as well, Do they still have medical division, they use to have 70% of the hospital bed market. Help relatives and loved ones properly grieve their loss. Every day the world lives, works, plays, travels, eats, and heals because of what we do at Hillenbrand. Aurora Casket Company, Inc. - Company Profile, Information, Business (AP) 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. The word took two different paths, cofin in Old French originally meaning basket, became coffin in English and became couffin in modern French which nowadays means a cradle. "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," said Kim Ryan, President and Chief Executive Officer of Hillenbrand. Were being punished after I remarried. This Indiana based company is listed on the NYSE and has a market capitalization of just over $3 billion. Have Watchlists? Hillenbrand's portfolio includes brands such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville. The following is all from our March 31, 2022, report with some recent updates and is available on request. We believe the correct route for them is to Spinoff the business to existing shareholders to maximize value. A separation in March 2020, based on the revenue distribution, would have resulted in a higher leverage for Batesville (BATES) on a standalone basis (4.3x). As a result, some of the services that Batesville has provided over the years are now needed by the city, and not just the city. From 2020 to 2021, HIs stock price went from as low as $14.29 (March 18, 2020) to over $45 by the end of February 2021. BATESVILLE, Ind. Pros. As humans, we find death a difficult topic as it brings up a lot of feelings of anxiety, fear and awkwardness. Batesville (BATES) derives 89% of its business from the sale of caskets, whereas its peers have a mixture of casket sales and funeral services, and we believe the services business is helping these peers achieve better operating margins compared to BATES. Employees: 177, union Total Square Footage: 197,816 Primary Product/Market: wood component parts for caskets Start-Up Date: 1975 Achievements: 55% reduction in cost of quality since 2006; 76% reduction in OSHA-recordable injury and illness cases in past three years; 2007 IndustryWeek Best Plants winner. HIs new and current CEO (as of January 1, 2022) is Kimberly K. Ryan. Over the years, weve fulfilled Hillenbrands vision to create the finest funeral products. Batesville Casket Company is looking for a Maintenance Associate (2nd shift) to join our team in Batesville, IN. Nominate a company for IBJs exclusive ranking of fastest-growing privately held companies by March 1st. Credit Suisse served as lead financial advisor to LongRange and TD Securities also served as financial advisor on the transaction. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. Casket prices, coffin prices, buy casket online, buy caskets in Seattle, cheap caskets in Portland, buy my own casket direct cheaper than funeral homes, Batesville, matthews Aurora, Signet and other name brands. Batesville Casket Co. to be sold - WISH-TV | Indianapolis News 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. 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. At the time, we acknowledged that with the help of an activist investor, the company can come off its 2008 lows and create value for shareholders. BATESVILLE - Casket Site Round end shell design. Caskets are delivered to more than 16,000 funeral homes daily using Batesville's own fleet of trucks. Plush casket interiors are introduced for the first time. LifeStories caskets and medallions are added to the product offering, increasing the range of options for personalizing Batesville caskets. Guided by our Purpose Shape What Matters For Tomorrow we pursue excellence, collaboration, and innovation to consistently shape solutions that best serve our associates, customers, communities, and other stakeholders. As well as sadness. Ms. Ryan has been on the board of a company that previously performed a Spinoff. Hillenbrand has 6 subsidiaries including Batesville Casket Company, Coperion and Milacron. The statement said the two organizations mutually agreed on the break, though the financial BERNZOTT CAPITAL ADVISORS Buys 1, Sells 4 in 4th Quarter. PDF Casket Price List - 11.21 The companys announcement provided no guidance on what impact the sale might have on Batesville Casket Co., its employees or its holdings in southeastern Indiana. In fact, close to 55% of all funerals in the US currently are cremations. The forward-looking information in this release speaks only as of the date hereof, and we assume no obligation to update or revise any forward-looking information. Casket manufacturers in the USA Batesville Casket Company Batesville Casket Company is owned by Hillenbrand Inc. Headquartered in Batesville, Indiana, with estimated annual revenues of $553 million. It has been known as the Batesville Casket Company ever since. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. John A. Hillenbrand and associates pose at the Batesville facility (via Batesville) Starting in the 1860s, a German immigrant began quietly acquiring these small casket brands in a bid to consolidate the market. For the best MarketWatch.com experience, please update to a modern browser. There are currently no items in this Watchlist. batesville is a stock broker that sells shares of stock on a stock exchange. 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. Shape What Matters For Tomorrow. Intraday data delayed at least 15 minutes or per exchange requirements. Disclaimer of . Hillenbrand, Inc. engages in designing, manufacturing, and servicing highly engineered and mission-critical equipment and solutions to the customers. If HIs stock price hadnt doubled, there would have been a risk that the market cap size for Batesville would have been too small and been kicked out of the SmallCap 600 Index, and shareholders would have incurred index selling pressure. The Advanced Process Solutions segment provides compounding, extrusion, and material handling, screening, and separating equipment, systems, and services for manufacturing and other industrial processes. Its stock was trading at around $17 early this week, below its $19.39 on Jan. 28 but above the $16.68 where it started the year. 2023 Cremation Caskets Market Largest Share and Growth Potential by 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. Fixed pii_email_4bd3f6cbbb12ef19daea Error, The Way to Repair Outlook pii_email_11fe1b3b7ddac37a081f Error Code, Personally identifiable information PII doesnt belong in your email University Information Technology The University of Utah, pii_email_37f47c404649338129d6 Error Is Solved Now, Emailing PII :: Administrative Department :: USNA. 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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. 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. batesville is a broker that sells shares of stock on a stock exchange. Finally on July 20, the company have announced a strategic review of their Batesville business. Purchase your ticket today. Warehouse Associate- (full-time) Columbus, Ohio, USA. It had sales of about $50 million a year and was growing between 7 and 10 percent a year, according to Indiana Business. Total Insider Purchases and Sales Reported to the SEC. Since then, more than 14.5 million trees have been planted under this program. Cremation is the combustion, vaporization, and oxidation of cadavers to basic chemical compounds, such as gases, ashes and mineral fragments retaining the appearance of dry bone. Batesville Casket was the only company Hillenbrand owns in Indiana and represented about 25% of their total revenue. Batesville Casket Company, Inc. manufactures metal and hardwood burial caskets. These batesville casket company stock will make the memory of departed ones feel more meaningful and special, and set the right tone for the entire ceremony. Joining Batesville means becoming part of a tight-knit family that thrives on teamwork, community, and making a difference in peoples' lives. In Stock. It is a broker that is regulated by the Securities and Exchange Commission. Batesville Casket Co Inc - Company Profile and News The deal is expected to close in the first quarter of 2023, provided it clears all regulatory hurdles. Hillenbrand reaches deal to sell Batesville Casket for $761M Words that could indicate that we are making forward-looking statements include the following: This is not an exhaustive list, but is intended to give you an idea of how we try to identify forward-looking statements. Through innovation and craftsmanship, we create funeral and memorialization products that support funeral professionals and the families they serve. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. LARGEST ONLINE CASKET WHOLESALER Free Next Day Delivery Nationwide Available* Hillenbrand is a company listed under the stock ticker HI (US). STAMFORD, Conn., December 15, 2022--(BUSINESS WIRE)--LongRange Capital ("LongRange"), a private investment firm with a longer-term orientation to building and growing middle market businesses, announced that it has entered into a definitive agreement to acquire Batesville Casket Company ("Batesville"), a leading provider of quality death care products and services as well as innovative technology solutions. In . 24/7 coverage of breaking news and live events.