Hillenbrand Completes Financing to Fund Milacron Acquisition
Hillenbrand, Inc., announced that it has completed the permanent financing arrangements intended to fund a portion of the purchase price for its acquisition of Milacron Holdings Corp. with an amendment to its Third Amended and Restated Credit Agreement. The amendment increases Hillenbrand’s borrowing capacity for funding the acquisition by $225 million. In completing these arrangements, Hillenbrand has eliminated its previously announced bridge financing commitments related to its acquisition financing.
Hillenbrand intends to use borrowings under the credit agreement, available cash and the net proceeds from its previously announced senior notes offering to finance the cash consideration as well as to repay certain indebtedness of Milacron and the related fees and expenses associated with the transaction. The acquisition is expected to close by the end of 2019.
Hillenbrand is a global diversified industrial company with multiple leading brands that serve a wide variety of industries around the world. We pursue profitable growth and robust cash generation to drive increased value for our shareholders. Hillenbrand’s portfolio is composed of two business segments: the Process Equipment Group and Batesville. The Process Equipment Group businesses design, develop, manufacture and service highly engineered industrial equipment around the world. Batesville is a recognized leader in the death care industry in North America. Hillenbrand is publicly traded on the NYSE under “HI.”
Source: Hillenbrand, Inc.