Hillenbrand Completes Sale of Cimcool Business to DuBois Chemicals, Inc.

Hillenbrand, Inc., announced that its wholly-owned subsidiary Milacron LLC has completed the sale of its Cimcool business to DuBois Chemicals, Inc. All conditions were met, including the employee consultations required by Dutch law, allowing for the transaction to be completed in a single closing and resulting in cash proceeds to Hillenbrand of approximately $224 million.

“Finalizing the sale of Cimcool is timely and an important milestone for Hillenbrand,” said Joe Raver, president and CEO of Hillenbrand. “The proceeds from the divestiture meaningfully strengthen our financial position and provide additional flexibility.”

As previously announced, DuBois has also agreed to pay up to $26 million in contingent purchase price upon a future sale of the combined DuBois and Cimcool businesses, conditioned upon DuBois’ ultimate sponsor receiving elevated levels of return on equity, for an aggregate purchase price not to exceed $250 million should these conditions be met.

Consistent with its current capital allocation priorities, Hillenbrand intends to use cash proceeds from the sale primarily for de-leveraging activities.

About Hillenbrand

Hillenbrand (www.hillenbrand.com) is a global diversified industrial company with businesses 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 includes industrial businesses such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville, a recognized leader in the death care industry in North America. Hillenbrand is publicly traded on the NYSE under “HI.”

Source: Hillenbrand, Inc.