Kimball Electronics acquires Dutch medical CDMO Helvoet
US electronics manufacturer Kimball Electronics has acquired Helvoet Polymer Technologies B.V., a Dutch contract development and manufacturing organisation specialising in micro-molding and precision injection molding for medical applications. The purchase price is EUR 90 million, or approximately USD 103 million.
Helvoet was founded in 1939 and most recently operated as a wholly-owned subsidiary of Hydratec Industries N.V., with manufacturing facilities in Tilburg in the Netherlands and Pune in India. The company generated revenue of approximately USD 56 million in 2025, with an EBITDA margin in the mid-teens. More than 70% of revenue came from medical customers, according to a press release from Kimball Electronics.
The acquisition gives Kimball a manufacturing presence in Europe and India while adding capabilities in microfluidics, diagnostics and drug delivery – segments Kimball describes as among the fastest-growing in healthcare. The company's existing facility in Indianapolis is positioned to serve Helvoet's US customers. The transaction is expected to be accretive to fiscal 2027 adjusted earnings, increasing Kimball's medical vertical sales in the low double-digit range.
Helvoet will continue to be led by its current management team, including CEO Eveline Hogenkamp.
"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," said Richard D. Phillips, CEO of Kimball Electronics.
