Hillenbrand to sell 51% stake in Milacron business to Bain affiliate for $287M

On February 5, the company entered into a definitive agreement to sell an ownership stake of approximately 51% in its Milacron injection molding and extrusion business to an affiliate of Bain Capital for $287M, subject to customary closing adjustments. The company will retain an ownership stake of approximately 49%. This transaction reflects the continued execution of Hillenbrand’s (HI) portfolio transformation and profitable growth strategy. The net proceeds after tax are expected to be approximately $250M and will be used for debt paydown. The transaction is expected to be completed at the end of Hillenbrand’s fiscal second quarter or beginning of the fiscal third quarter, subject to customary closing conditions. Following the close of the transaction, Hillenbrand’s consolidated results will include a proportionate share of Milacron’s net income (or loss) as equity income at corporate. In fiscal year 2024, Milacron generated $526M in revenue and $64M in adjusted EBITDA.