M&A Deal Summary

Lone Star Funds Acquires Hillenbrand

On October 15, 2025, private equity firm Lone Star Funds acquired machinery company Hillenbrand for 3.8B USD

Acquisition Highlights
  • This is Lone Star Funds’ 2nd transaction in the Machinery sector.
  • This is Lone Star Funds’ 3rd largest (disclosed) transaction.
  • This is Lone Star Funds’ 15th transaction in the United States.
  • This is Lone Star Funds’ 1st transaction in Indiana.

M&A Deal Summary

Date 2025-10-15
Target Hillenbrand
Sector Machinery
Buyer(s) Lone Star Funds
Deal Type Going Private
Deal Value 3.8B USD
Advisor(s) Evercore Group (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Hillenbrand

Batesville, Indiana, United States
Hillenbrand is a diversified industrial company with multiple market-leading brands that serve a wide variety of industries across the globe. The company'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. Hillenbrand was founded in 1906 and is based in Batesville, Indiana.

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Buyer(S) 1

Buyer

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 95.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.


DEAL STATS #
Overall 29 of 29
Sector: Machinery M&A 2 of 2
Type: Going Private M&A Deals 4 of 4
State: Indiana M&A 1 of 1
Country: United States M&A 15 of 15
Year: 2025 M&A 2 of 2
Size (of disclosed) 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-02 Tokyo Beta

Tokyo, Japan

Tokyo Beta offers a unique, convenient, and affordable rental housing option portfolio, primarily consisting of two-story, wooden-structured detached houses with shared spaces, including kitchens and bathrooms. The majority of the properties are strategically located near public transportation, providing easy access to major business hubs and educational institutions. Tokyo Beta is based in Tokyo, Japan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-10-20 Xella

Duisburg, Germany

Xella is an international solution provider in the field of building and insulation materials. It is the parent company of such well-known brands as Ytong, Silka, Hebel, and Multipor, and is a pioneer in digitally supported construction processes with its digital planning service blue.sprint. Xella is based in Duisburg, Germany.

Sell €1.9B