Kimball Electronics buys Helvoet for €90 million

• Kimball Electronics (NASDAQ:KE) acquired Helvoet Polymer Technologies for €90 million, or about $103 million.
• The Kimball Electronics share price was up at $25.60 after the announcement.
• Kimball said the deal supports its plan to expand its medical contract manufacturing business in Europe, India, and the U.S.

Kimball Electronics (NASDAQ:KE) acquired Helvoet Polymer Technologies for €90 million, or about $103 million, adding a European medical CDMO focused on microfluidics, diagnostics, and drug delivery.

The deal compares with Helvoet’s calendar 2025 revenue of about $56 million and an EBITDA margin rate in the mid-teens.

“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,” said Kimball Electronics Chief Executive Officer Richard D. Phillips.

Kimball said the purchase price excludes working capital, customary adjustments, and acquisition-related costs, and represents about 9x Helvoet’s estimated adjusted EBITDA for calendar 2026.

Kimball said it funded the acquisition through cash and available borrowing capacity on existing credit lines, with pro forma leverage still aligned with its capital allocation priorities.

Kimball said Helvoet will keep its current leadership team, including Chief Executive Officer Eveline Hogenkamp, and continue operating from Tilburg, Netherlands, and Pune, India.