Hillenbrand closes on Coperion acquisition
BATESVILLE, Ind. (AP) — Diversified industrial company Hillenbrand has completed its acquisition of Germany's Coperion Capital GmbH for 232 million euros, or about $301 million.
The deal, which was announced in October, also includes approximately $113 million in debt and about $129.8 million in pension liabilities.
Coperion, which was owned by German private equity firm Deutsche Beteiligungs AG, makes equipment used in the plastics, chemicals, food processing, pharmaceuticals and aluminum industries. It is based in Stuttgart, Germany.
Hillenbrand Inc. also provided its forecast for fiscal 2013, which ends Sept. 30. It anticipates full-year adjusted earnings between $1.82 and $1.92 per share. Revenue is forecast to be about $1.6 billion.
Shares of Hillenbrand, based in Batesville, Ind., declined 47 cents, or 2.2, percent, to $20.69 in morning trading on Monday. The stock has traded in a 52-week range of $16.75 to $24.18.