Kimball Electronics to Buy Helvoet Polymer in €90 Million Asset Deal
The all-cash asset purchase gives Kimball Electronics a specialized medical CDMO with microfluidics and drug-delivery capabilities, extending its European footprint and opening a path into India[1][2].
Kimball Electronics, Inc. (KE) agreed to acquire Helvoet Polymer Technologies B.V. in an asset-purchase transaction valued at €90 million, or approximately $103 million, the company said.
The deal is structured as an asset purchase rather than a stock or merger transaction, and Kimball said it expects the acquisition to be accretive to fiscal 2027 adjusted earnings.
Commenting on the announcement, Richard D. Phillips, Chief Executive Officer of Kimball Electronics, said, "Helvoet is exactly the type of acquisition we've been building toward, a highly specialized medical CDMO with comprehensive capabilities in microfluidics, diagnostics, and drug delivery, serving blue-chip customers in the fastest-growing segments of healthcare. The acquisition is central to our strategy of establishing Kimball as a true global medical CMO platform with a strengthened presence in Europe, access to the India market, and a clear path for accelerating growth in the U.S. by leveraging our new manufacturing facility in Indianapolis".
The acquisition establishes Kimball as a global medical CMO platform by expanding its manufacturing footprint in Europe and adding production facilities in India, according to the company. Helvoet's specialization in microfluidics, diagnostics and drug-delivery components fills gaps in Kimball's medical vertical, which posted $101.6 million in net sales in the first quarter of fiscal 2026, up 13% from a year earlier.
The deal follows a run of bolt-on medical and specialty-manufacturing transactions this year. Merit Medical Systems' $22 million purchase of Pentax of America's C2 CryoBalloon assets showed a similar small-scale asset-deal structure aimed at adding a specialized device line to an existing platform, while Westlake Corporation's acquisition of the ACI compounding business illustrated how U.S. manufacturers have used European asset purchases to extend specialty-materials footprints. Kimball's own portfolio moves, including last year's divestiture of its Automation, Test, and Measurement business and consolidation of production into Mexico and Jasper, Indiana, have been part of a broader push to sharpen its strategic focus on higher-growth verticals.
Kimball did not disclose a specific expected closing date for the Helvoet transaction in the release, though the company framed the deal as central to a near-term platform strategy that also includes its new manufacturing facility in Indianapolis, which Phillips said would help accelerate U.S. growth alongside the expanded European and Indian footprint.