While Batesville provides a range of burial solutions and cremation options, the bulk of its revenue derives from the sale of caskets. Batesville Casket Company TCC - Thacker Casket Co mpany TGL - Triangle Casket Co mpany WLW - Watts Line of Woods WRC - Warfield -Rohr Casket Company - Denotes that casket is located in selection room. 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, Hillenbrand CEO Kim Ryan said in written remarks.We look forward to building upon our track record of performance, enabled by consistent deployment of the Hillenbrand Operating Model to drive profitable growth and deliver long-term value to our shareholders.. 209.55 cm L X 72.39 cm W X 58.42 cm H 8. What it will take to get a contrarian buy signal for gold, Bombay Sapphire ups the lemony flavor in this elegant, refreshing addition to its gin lineup, An orphan at 65: setting new priorities after the loss of your parents, U.S. prepares new rules on investment in China. Batesville Casket operates in the United States. Wood, Particle Board, and Corrugated Caskets Casket Description Price Solid Mahogany Batesville President Mahogany. LongRange's acquisition of Batesville, from Hillenbrand, Inc. , a global industrial company, is expected to close in the first quarter of 2023, subject to regulatory approval and other customary . - A private investment firm will buy an Indiana business that's been making caskets in Indiana since the 19th century. Batesville is a city with a rich history, but like most of the places on this list, its a city that does a lot of the same things, from a very simple structure to a very complex structure. 598 Total Views. The next major story for Hillenbrand will be moving their HQ location out of the state. There can be no assurance that the Proposed Transaction will be consummated. Musk Made a Mess at Twitter. Founded in 1884 as the Batesville Coffin Company, Batesville was purchased by John A. Hillenbrand in 1906, when it became the Batesville Casket Company. Market Cap Scenario of Split Based on March 2020 Revenue Contribution. I feel very hurt: My late wifes parents cut me out of their will and reduced my daughters inheritance. 7. Round end shell design. A coffin about to be lowered at a funeral service in a cemetery. Back in 2020, while the minimum market capitalization restrictions would have been lower than what it is today in order for both the RemainCo and the SpinCo to remain in the S&P SmallCap 600 Index to prevent any near-term index selling pressure, other complications surrounding its debt would have arisen. Trustpilot. More info / Customize. 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. Our one-year Base case target price is $67.36 for HI, implying a potential upside of +45% from the current share price of $46.57. Manufacturing/Operations 1 day ago New Paralegal Batesville, Indiana, USA Whether youre a broker, developer, or serve the real estate industry, youre invited to a night of mixing + mingling. The company starts its Living Memorial program. Hillenbrand, also based in Batesville, said it has agreed to sell the business to an affiliate of LongRange Capital so it can focus on its strategic move toward long-term growth in attractive markets such as plastics, food and recycling. One Batesville Boulevard Batesville, IN 47006 Investor Relations Hillenbrand, Inc. Sam Mynsberge T: 812-931-5036 investors@hillenbrand.com Transfer Agent Computershare Limited T: 877-745-9349 Hillenbrand, Inc. engages in designing, manufacturing, and servicing highly engineered and mission-critical equipment and solutions to the customers. Intraday Data provided by FACTSET and subject to terms of use. 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. Therefore, the SpinCo (suggested ticker BATES) is in a much better state to be listed today, creating a pure-play, high free cashflow generating business. It grew to become the largest producer of caskets in the nation and its shiny gold Promethean casket has often been spotted at celebrity burials, including for superstars Michael Jackson, Aretha Franklin and James Brown. Batesville Caskets Gallery | Batesville Caskets Gallery Home Select Page 18 GAUGE CRYSTAL BLUE 18 GAUGE PRIMROSE 18 GAUGE SEALER MIDNIGHT SILVER 20 GAUGE GEMINI WHITE 20 GAUGE SEALER CARNATION MIST 20 GAUGE SEALER SILVER EBONY 20 GAUGE STAR SILVER 700 MASTERPIECE MAHOGANY CLASSIC GOLD 48 OZ. 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. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Since then, more than 14.5 million trees have been planted under this program. Thats not to say that there arent many problems with the city. BATESVILLE, Ind. The stock youre looking for is called Batesville Casket Company, and it is a stock broker that sells shares of stock on a stock exchange. I feel very hurt: My late wifes parents cut me out of their will and reduced my daughters inheritance. ", "Batesville is a strong business with passionate associates who are committed to our customers and our mission of helping families honor the lives of those they love," said Chris Trainor, President of Batesville. 1978. Copyright 2023 MarketWatch, Inc. All rights reserved. Funeral homes often have high prices for the workmanship and quality of these brand name caskets. We deliver innovative products and solutions that make a difference in the lives of families and matter to the funeral industry. Finally, the management are no strangers to value creation from Spinoffs. It is a broker that is regulated by the Securities and Exchange Commission. We are greatly appreciative of Batesvilles long and successful operating history as part of Hillenbrand and we look forward to working closely to execute a seamless transition., if ( typeof LD == "object" ) { LD.initPage(); }. All of us at . Were being punished after I remarried. 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 . Theranoss Elizabeth Holmes gives birth to second baby, pushes to delay starting her 11-year prison term, Elon Musks bid to implant chips into human brains shot down by FDA. Hillenbrand seems an obvious candidate for hidden value release. Batesville Casket, based in Batesville, Ind., has for years commanded about 40 percent market share of a $1.5 billion industry. BATESVILLE, Ind., Dec. 15, 2022 /PRNewswire/ -- Hillenbrand, Inc. (NYSE: HI) announced today that it has entered into a definitive agreement to sell its Batesville business segment to an affiliate of private equity firm, LongRange Capital, for $761.5 million, which includes an $11.5 million sub-note. Ms. Ryan has been on the board of a company that previously performed a Spinoff. It was. Will fit into a standard outer burial container. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussion under the heading "Risk Factors" in Part I, Item 1A of Hillenbrand's Form 10-K for the year ended September 30, 2022, filed with the Securities and Exchange Commission ("SEC") on November 16, 2022. Aurora had 600 employees, up from 400 a decade earlier. 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. Were being punished after I remarried. Hillenbrand split Hill-Rom into a separate publicly traded company in 2008. With a stock market that has taken a bashing, companies need to think of their shareholders as the economy tightens its belt and further consider how they are going to offer value for the holders of their stock. Editor's note: You can comment on IBJ stories by signing in to your IBJ account. Team work is hard to come by so don't expect help. In 2019, Hillenbrand officials told IBJ that Batesville Casket accounted for about one-quarter of the corporations sales and 40% of its cash flow. 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. Batesville begins manufacturing metal caskets. 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. 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. Batesville releases the FailSafe liner for metal caskets. Hillenbrand sells casket business Batesville to LongRange Capital Dec. 15, 2022 at 7:44 a.m. As humans, we find death a difficult topic as it brings up a lot of feelings of anxiety, fear and awkwardness. These factors include, but are not limited to: global market and economic conditions, including those related to the financial markets; the impact of contagious diseases such as the COVID-19 pandemic and the escalation thereof due to variant strains of the virus and the societal, governmental, and individual responses thereto, including supply chain disruption, loss of contracts and/or customers, erosion of some customers' credit quality, downgrades of the Company's credit quality, closure or temporary interruption of the Company's or its suppliers' manufacturing facilities, travel, shipping and logistical disruptions, domestic and international general economic conditions, such as inflation, exchange rates and interest rates, loss of human capital or personnel, and general economic calamities; risks related to the Russian Federation's invasion of Ukraine (referred to herein as the "Ukraine War") and resulting geopolitical instability and uncertainty, which could have a negative impact on our ability to sell to, ship products to, collect payments from, and support customers in certain regions, in addition to the potential effect of supply chain disruptions that could adversely affect profitability; the risk of business disruptions associated with information technology, cyber-attacks, or catastrophic losses affecting infrastructure; negative effects of the Linxis Group SAS ("Linxis") acquisition or other acquisitions on the Company's business, financial condition, results of operations and financial performance (including the ability of the Company to maintain relationships with its customers, suppliers and others with whom it does business); the possibility that the anticipated benefits from the Linxis acquisition and other acquisitions cannot be realized by the Company in full or at all or may take longer to realize than expected; risks that the integrations of Linxis or other acquired businesses disrupt current operations or pose potential difficulties in employee retention or otherwise affects financial or operating results; any failure to obtain, or delays in obtaining, required regulatory approvals or clearances for the Proposed Transaction; any failure by the parties to satisfy any of the other conditions to the Proposed Transaction; the possibility that the Proposed Transaction is ultimately not consummated; potential adverse effects of the announcement or results of the Proposed Transaction on the market price of the Company's common stock or on the ability of the Company to develop and maintain relationships with its personnel and customers, suppliers and others with whom it does business or otherwise on the Company's business, financial condition, results of operations and financial performance; risks related to diversion of management's attention from our ongoing business operations due to the Proposed Transaction; the impact of the Proposed Transaction on the ability of the Company to retain and hire key personnel; increasing competition for highly skilled and talented workers as well as labor shortages; our level of international sales and operations; the impact of incurring significant amounts of indebtedness and any inability of the Company to respond to changes in its business or make future desirable acquisitions; the ability of the Company to comply with financial or other covenants in debt agreements; cyclical demand for industrial capital goods; the ability to recognize the benefits of any acquisition or disposition, including potential synergies and cost savings or the failure of the Company or any acquired company to achieve its plans and objectives generally; impairment charges to goodwill and other identifiable intangible assets; competition in the industries in which we operate, including on price; impacts of decreases in demand or changes in technological advances, laws, or regulation on the revenues that we derive from the plastics industry; our reliance upon employees, agents, and business partners to comply with laws in many countries and jurisdictions; increased costs, poor quality, or unavailability of raw materials or certain outsourced services and supply chain disruptions; continued fluctuations in mortality rates and increased cremations; the dependence of our business units on relationships with several large customers and providers; competition faced by our Batesville business from non-traditional sources; the impact to the Company's effective tax rate of changes in the mix of earnings or tax laws and certain other tax-related matters; exposure to tax uncertainties and audits; involvement in claims, lawsuits and governmental proceedings related to operations; uncertainty in the United States political and regulatory environment or global trade policy; adverse foreign currency fluctuations; labor disruptions; and the effect of certain provisions of the Company's governing documents and Indiana law that could decrease the trading price of the Company's common stock. Batesville Casket Co. is a leading provider of death care products and services. . 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. Batesville Casket Company is owned by Hillenbrand . Here at The Edge, we to seek out untapped shareholder value as well as underperforming companies for Activist investors. 2021-22 Hoosiers Talk About Why Indiana is a Great Place for Your Career, 2020-21 Todays College Students Older, Wiser, 2019-20 Former Indy 500 Driver Crosses College Finish Line, United places huge order with Boeing to replace aging planes, Lebanon votes to annex 5,225 acres for LEAP district, Hoosier manufacturers ramping up adoption of advanced technologies, report shows, As supply chains unclog, consumers enjoy (tentative) relief, Noblesville City Council approves incentives for $30M SMC expansion plan, Republic sues flight school students over deal for reduced tuition, Investors wary as Elanco pins hopes on new products, Robotics curriculum initiative targets younger, nonwhite kids. Join us for an evening of networking designed especially for real estate professionals. Otherwise it is a great place to work. 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. This browser is no longer supported at MarketWatch. Debt financing for the transaction is being led by TD Securities, who is acting as Joint Lead Arranger, Joint Bookrunner and Administrative Agent, along with Joint Lead Arrangers and Joint Bookrunners JPMorgan Chase Bank, N.A. . Increase in cremation is killing the casket business. Revenue Break-Up: Last Fiscal Year End & 9MFY22. The company announced the deal Thursday morning, a move that would result in the selling off of the business and brand that served as the roots for the larger Hillenbrand company in Batesville starting in 1884 and would grow to become the nations largest casket maker. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Joe A. Raver retired at the end of 2021. As well as sadness. However, our Sum-of-the-parts target price comes to around $78.99, which implies a potential upside of +70%.