Kimball Electronics expands medical grid with US$103M Helvoet takeover

INDIA—Kimball Electronics has agreed to acquire Helvoet Polymer Technologies, a European contract development and manufacturing organisation (CDMO), for €90 million (US$103 million), marking a major step in the company’s expansion into the life sciences manufacturing sector.

The acquisition strengthens Kimball’s position in medical contract manufacturing while extending its production footprint across Europe and India.

The Jasper, Indiana-based electronics and medical contract manufacturer will add Helvoet’s facilities in Tilburg, the Netherlands, and in Pune, India, to its global manufacturing network.

Kimball said the transaction supports its strategy to build a fully integrated global medical contract manufacturing organisation capable of serving customers across multiple regions.

The acquisition was financed through a combination of cash and existing credit facilities.

Kimball also expects the deal to contribute positively to adjusted earnings in fiscal 2027 and to increase revenue from its medical business.

Helvoet brings specialised manufacturing expertise

Founded in 1939, Helvoet specialises in high-precision polymer and elastomer components used in regulated industries.

Its expertise includes highly automated micro-moulding, precision injection moulding, diagnostics, microfluidics and drug delivery technologies.

The company generated approximately US$56 million in revenue during 2025.

More than 70% of its sales came from medical customers, while the remainder came from food technology, mobility, and new energy markets.

Those businesses provide additional income that supports continued investment in healthcare manufacturing.

Within the healthcare sector, Helvoet manufactures components for syringes, blood testing systems, diagnostic products, drug delivery devices and other medical technologies.

It also designs, develops and assembles precision plastic and rubber components for highly regulated applications.

Expanding opportunities in the United States

Kimball believes the acquisition complements its recently opened biopharmaceutical contract manufacturing facility in Indianapolis, Indiana.

The site offers product design, sterilisation, sterile packaging, cold-chain logistics, and contract manufacturing services.

According to Chief Executive Officer Richard Phillips, Helvoet’s specialised capabilities and customer base fit well with Kimball’s long-term strategy.

The company expects the combined business to create new opportunities with large multinational medical technology customers while strengthening its presence in fast-growing healthcare markets.

Helvoet Chief Executive Officer Eveline Hogenkamp said Kimball’s Indianapolis facility, customer relationships, and manufacturing capabilities would help accelerate Helvoet’s expansion in the U.S. market and support larger, more complex medical programmes.

She added that the two companies share similar strengths in engineering, quality and advanced manufacturing.

Helvoet’s current leadership team, including Hogenkamp, will remain in place following the acquisition.

Meanwhile, financial advisers on the transaction included MP Corporate Finance for Helvoet and Roth Capital Partners for Kimball Electronics.