The Schenck Process Group, a leading provider of sustainable, integrated measuring and process technology solutions, has recently entered into a definitive agreement to sell its Food and Performance Material (FPM) business to Hillenbrand, Inc., a global industrial leader in highly-engineered, mission-critical processing equipment and solutions.
The FPM business will be integrated into Hillenbrand’s Advanced Processing Solutions business segment and the transaction is expected to close in the 3rd quarter of 2023.
Schenck Process’ FPM business has operations in the US, the UK, Thailand and Brazil, with overall revenue of over US$500 million in 2022. FPM has customers in over 150 countries and with around 1,300 employees. It specializes in the design, manufacturing, and service of solutions incorporating technologies such as material handling, feeding, depositing, baking, milling, calcining, and filtration that are highly complementary to the equipment and solutions currently offered in Hillenbrand’s Advanced Process Solutions segment.
Keith Cochrane, CEO of Schenck Process Group said, “We are pleased to have found an acquiror which will position our Food and Performance Materials business to continue to grow and succeed. The Hillenbrand suite of technology and solutions, combined with their global footprint, provides an excellent home for the business.”
The sale of its FPM business marks the last step in setting up 3 distinct and standalone businesses. Last year, Schenck Process sold its Mining business to Sandvik. This will leave it as a leading provider of process solutions for mission critical applications across a number of end markets including infrastructure, chemicals and plastics with a focus on the EMEA and Asian markets.
Kim Ryan, President and CEO of Hillenbrand said, “By leveraging the combined applications and systems processing expertise of our Advanced Process Solutions segment and the Schenck Process Food and Performance Material business, we will be positioned to offer greater value to our customers and drive scale benefits across manufacturing, engineering, and procurement.”
Hillenbrand is a global industrial company with more than 9,000 employees who provide highly-engineered, mission-critical processing equipment and solutions to customers in over 100 countries around the world. Hillenbrand’s portfolio is composed of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling.
