Kimball Electronics has acquired Helvoet Polymer Technologies B.V., a European-based Contract Development and Manufacturing Organization (CDMO), for approximately $103 million. The strategic purchase establishes a global medical CMO platform by expanding Kimball’s manufacturing footprint in Europe and adding production facilities in India. The transaction is expected to be accretive to fiscal 2027 adjusted earnings and increase sales in the medical vertical by a low double-digit range.

The acquisition was valued at a purchase price of €90 million, excluding working capital, adjustments, and acquisition-related costs. This figure represents approximately 9x estimated adjusted EBITDA for Helvoet in calendar 2026. Kimball funded the acquisition through a combination of cash and available borrowing capacity on existing lines of credit. Pro forma leverage following the close remains consistent with the capital allocation priorities of Kimball.

Helvoet specializes in highly automated micro-molding and precision injection molding for microfluidics, diagnostics, and drug delivery applications. In calendar 2025, the company generated revenue of approximately $56 million with an EBITDA margin rate in the mid-teens. Over 70% of its revenue was derived from medical customers, with the remainder coming from other end markets that support continued reinvestment in the medical business.

Strategic Synergies and Leadership

Richard D. Phillips, Chief Executive Officer of Kimball Electronics, stated that the acquisition is central to the company's strategy of establishing a true global medical CMO platform. The deal provides a strengthened presence in Europe, access to the India market, and a clear path for accelerating growth in the U.S. by leveraging Kimball's new manufacturing facility in Indianapolis. Helvoet's customer base includes blue-chip medical companies complementary to the Kimball portfolio, creating opportunities for expanded program wins and possible vertical integration.

Eveline Hogenkamp, Chief Executive Officer of Helvoet, will remain a key driver of the business going forward. Hogenkamp noted that the strategic fit between the two companies is strong, citing complementary capabilities and shared values around engineering excellence. The combined business aims to capture near-term U.S. demand from existing Helvoet customers through Kimball's Indianapolis facility.

Financial and Operational Details

The following table outlines key details of the transaction and the upcoming conference call:

MP Corporate Finance served as the lead financial advisor to Helvoet, while Roth Capital Partners served as the exclusive financial advisor to Kimball Electronics. Management will host a conference call and webcast on Wednesday, July 1, 2026, at 9:00 AM ET to discuss the transaction further.