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Reuters – Hillenbrand Buys Coperion Capital for $528M

Hillenbrand Inc. said it would buy privately held Coperion Capital GmbH for about 408 million euros ($527.8 million) to boost its process equipment business. The acquisition of Stuttgart, Germany-based Coperion Capital includes the assumption of an estimated 76 million euros of net debt and a pension liability of 100 million euros. Coperion is a portfolio company of venture capital firm Deutsche Beteiligungs AG.

(Reuters) – Hillenbrand Inc. said it would buy privately held Coperion Capital GmbH for about 408 million euros ($527.8 million) to boost its process equipment business.

The acquisition of Stuttgart, Germany-based Coperion Capital includes the assumption of an estimated 76 million euros of net debt and a pension liability of 100 million euros.

The deal, which is expected to close in December or January, will immediately add to Hillenbrand’s earnings, excluding one-time costs.

Coperion, a portfolio company of venture capital firm Deutsche Beteiligungs AG, makes compounding and bulk material handling equipment for the chemical, food processing, mineral and pharmaceutical industries.

It had revenue of 520 million euros for the 12-month period ended Sept. 30.

Hillenbrand, known for its Batesville caskets and other funeral-related products, has diversified into material handling in recent years through acquisitions.

With the Coperion acquisition, Hillenbrand’s process equipment segment will generate revenue of more than $1 billion, representing about two-thirds of the company’s total revenue.