CHICAGO, April 1 /PRNewswire/ -- P&M Corporate
Finance, LLC is pleased to announce that it served as the exclusive
financial advisor to Hillenbrand, Inc. (NYSE: HI) in its
acquisition of K-Tron International, Inc. (Nasdaq: KTII) for
$150 per share or approximately
$435 million.
In the largest deal in the firm's 15-year history, P&M
Corporate Finance played a key role in identifying and contacting
K-Tron and in advising the management and board of Hillenbrand
regarding the negotiations and other terms of the acquisition.
Hillenbrand and P&M Corporate Finance conducted a comprehensive
search that involved a review of more than 4,000 companies
nationwide; P&M Corporate Finance profiled over 275 companies
and contacted more than 75 of those targets before Hillenbrand
narrowed the search to K-Tron.
"We are very pleased to have successfully completed this
transaction, which will help us realize our goal of building a
strong, diversified enterprise with multiple business platforms,"
said Kenneth A. Camp, president and
chief executive officer of Hillenbrand. "Bringing K-Tron into
the Hillenbrand family of companies would have been significantly
more difficult without the attention, expertise and guidance of our
financial advisor, P&M Corporate Finance, who played an
integral role in spearheading this deal for us. We carefully
reviewed the credentials of more than a dozen large and middle
market investment banking advisors and are pleased that we decided
on using P&M Corporate Finance for this critical project," said
Camp.
The Hillenbrand transaction resulted in a number of notable
achievements for P&M Corporate Finance including closing the
largest deal in its history and serving, for the first time, as
exclusive financial advisor in a transaction involving two publicly
traded companies. P&M Corporate Finance also issued a
fairness opinion to Hillenbrand and provided guidance relating to
deal positioning with institutional investors.
"P&M Corporate Finance was thrilled to advise Hillenbrand in
this milestone combination of two world class manufacturing
companies," said Scott George,
managing director of P&M Corporate Finance. "Our unique
buyside advisory experience and primary focus on serving middle
market companies enabled us to understand Hillenbrand's needs and
help them to develop and execute a strategy to identify a new
platform to diversify and grow their business." Chip Mulaney,
partner at Skadden, Arps, Slate, Meagher & Flom LLP, who served
as legal advisor to Hillenbrand on the deal, said, "I was quite
impressed by the level of deal sophistication, client service and
attention provided to this transaction by Scott George and the rest of his team at P&M
Corporate Finance. It was very clear to all involved that the
contribution they made to the success of this deal was very
significant."
About P&M Corporate Finance
P&M Corporate Finance, LLC is a middle market investment
bank providing merger & acquisition advisory services to
companies in North America and
Europe. PMCF provides public
and privately-owned companies and private equity firms with a broad
range of services including sale and acquisition advisory, capital
raising, fairness opinions and strategic advisory. Through
its offices in Chicago and
Detroit, the firm has dedicated
industry teams providing services to the business services, medical
technology, diversified industrial and plastics & packaging
industries.
About Hillenbrand, Inc.
Hillenbrand, Inc. (www.HillenbrandInc.com) is the holding
company for Batesville Casket Company, a leader in the North
American death care industry through the sale of funeral services
products, including burial caskets, cremation caskets, containers
and urns, selection room display fixturing, and other
personalization and memorialization products.
SOURCE P&M Corporate Finance, LLC