Kimball Electronics Acquires Helvoet for Micro-Moulding

Acquisition Kimball adds precision injection moulding capabilities with Helvoet

2026-07-09 Source: Kimball Electronics 1 min Reading Time

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Precision injection moulding is becoming a key part of Kimball Electronics’ medical growth strategy. With the acquisition of Helvoet Polymer Technologies, the company gains advanced micro-moulding capabilities for microfluidics, diagnostics and drug delivery, while expanding its manufacturing footprint in Europe and India.

Kimball Electronics acquires European-based medical CDMO, Helvoet Polymer Technologies(Source: free licensed / Pixabay) — Kimball Electronics acquires European-based medical CDMO, Helvoet Polymer Technologies
(Source: free licensed / Pixabay)

Kimball Electronics announced the company acquired Helvoet Polymer Technologies, a Contract Development and Manufacturing Organization (CDMO), based in Europe and with operations in India focused on microfluidics, diagnostics, and drug delivery.

The transaction was valued at a purchase price of 90 million euros (excluding working capital, other customary adjustments, and acquisition-related costs), or approximately 103 million dollars, representing 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.

Commenting on the announcement, Richard D. Phillips, Chief Executive Officer of Kimball Electronics, stated: “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.”

Based in the Netherlands, Helvoet was founded in 1939 and most recently operated as a wholly-owned subsidiary of Hydratec Industries, with manufacturing facilities in Tilburg, Netherlands, and Pune, India. In calendar 2025, revenue totaled approximately 56 million dollars with an Ebitda margin rate in the mid-teens. Over 70 percent of revenue was from medical customers and the balance derived from other end markets that deliver strong margins and support continued reinvestment in the medical business.

Helvoet will continue to be led by its current leadership team, including CEO Hogenkamp.

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