Hillenbrand Signs Binding Offer To Buy LINXIS Group In €572 Mln Deal - Quick Facts

(RTTNews) - Diversified industrial company Hillenbrand, Inc. (HI) announced Wednesday that it has signed a binding offer to acquire LINXIS Group for an enterprise value of around 572 million euros.

LINXIS, a process equipment and automation solutions provider for the food industry, is being acquired from IBERIS INTERNATIONAL S.À R.L, an affiliate of IK Partners, and additional sellers.

The deal is expected to be accretive to adjusted earnings per share within the first full year.

LINXIS Group provides mixing, ingredient automation, and portioning solutions for food and other higher growth end markets. The company expects calendar year 2022 revenue of approximately 300 million euros with mid-teen EBITDA margins.

Upon completion of required works council consultations, the companies expect to enter into a definitive purchase agreement, with closing expected to occur before calendar year end, subject to regulatory approvals.

Upon the deal closure, LINXIS Group and its over 1,000 employees will join its Coperion and Rotex brands as part of Hillenbrand's Advanced Process Solutions or APS segment.

Hillenbrand expects to use committed debt financing, cash on hand, and cash available under its revolving credit facility to fund this acquisition.

In the deal, Linklaters LLP is serving as legal counsel and SMBC Nikko is acting as a financial advisor for Hillenbrand.