Squire Patton Boggs has advised Kimball Electronics, Inc. (Nasdaq: KE) on its acquisition of Helvoet Polymer Technologies B.V. (“Helvoet”), 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 (excluding working capital, other customary adjustments, and acquisition-related costs), or approximately $103 million, representing approximately 9x estimated adjusted EBITDA for Helvoet in calendar 2026.
The cross-border team was led by Corporate partner Selma Baouch and included Thijs van der Vegt from the Amsterdam, John Woodruff in the Houston and Evan Toebbe in the Cincinnati office.
Kimball Electronics, Inc. is headquartered in Jasper, Indiana. Kimball Electronics is a global, multifaceted manufacturer offering Electronics Manufacturing Services (EMS) and Contract Manufacturing Organization (CMO) solutions to customers around the world.
Based in the Netherlands, Helvoet was founded in 1939 and most recently operated as a wholly-owned subsidiary of Hydratec Industries N.V., with manufacturing facilities in Tilburg, Netherlands, and Pune, India. Helvoet is a Contract Development and Manufacturing Organization (CDMO) for high-performance components in polymers and elastomers used in critical applications across health tech, food tech, new energy and mobility. They co-develop, manufacture and assemble precision components that meet the demands of regulated and high-performance environments.
