Hillenbrand, Inc. (NYSE:HI) signed a definitive agreement to acquire Peerless Machinery Corp. from Illinois Tool Works Inc. for $59 million.
November 15, 2022
Share
Hillenbrand, Inc. (NYSE:HI) signed a definitive agreement to acquire Peerless Machinery Corp. from Illinois Tool Works Inc. (NYSE:ITW) for $59 million on November 3, 2022. The consideration is subject to customary post-closing adjustments.
The transaction is expected to close prior to the end of calendar year 2022. DLA Piper LLP (US) acted as legal advisor to Illinois Tool Works Inc. (NYSE:ITW).
Hillenbrand, Inc. is a global industrial company that provides processing equipment and solutions. The Company operates through two segments: advanced process solutions and molding technology solutions. The advanced process solutions segment is a provider of process and material handling equipment, systems, and aftermarket parts and services for a variety of industries, including durable plastics, food and recycling. This segment's technologies include compounding, extrusion, material handling, conveying, mixing, ingredient automation, portion process, and screening and separating equipment. The molding technology solutions segment provides equipment, systems and aftermarket parts and service for the plastic technology processing industry. This segment has a product portfolio that includes injection molding and extrusion equipment, hot runner systems, mold bases and components, and maintenance, repair, and operating supplies. Its brands include Coperion, Milacron, K-Tron and Rotex.
HILLENBRAND, INC. 
