Kimball to acquire Global Equipment Services
Kimball Electronics is continuing its development beyond the scope of electronics manufacturing services – moving to a more multifaceted manufacturing solutions company.
The EMS provider, acting through its wholly-owned subsidiaries, has announced that it has signed an agreement to purchase substantially all of the assets and assume certain liabilities of GES Holdings, Inc., Global Equipment Services and Manufacturing, Inc., and its subsidiaries for approximately USD 50 million plus the assumed liabilities. The transaction is also subject to customary closing conditions, regulatory requirements, and governmental approvals. The transaction is expected to close in the first quarter of Kimball’s fiscal year 2019. “The acquisition is a significant step in our new platform strategy and our plans to continue our development beyond EMS to a multifaceted manufacturing solutions company,” stated Donald D. Charron, Chairman and CEO, of Kimball Electronics, Inc.