Kimball Electronics Completes Acquisition

Posted: Updated:
JASPER -

Jasper-based Kimball Electronics Inc. (Nasdaq: KE) has completed its acquisition of a California-based company. The $50 million deal includes substantially all of the assets and liabilities of GES Holdings Inc., Global Equipment Services and Manufacturing and its subsidiaries.

The acquisition was first announced in May. Chris Thyen, vice president of new platforms for Kimball Electronics, says the acquisition is the "first significant step" in the company's new platform strategy and continued efforts to develop into a multi-faceted manufacturing solutions company. "GES brings us new technologies and capabilities in automation, test, and measurement that will open new doors with new and existing customers."

Chief Executive Officer Don Charron says the GES team will join Kimball Electronics and bring their additional expertise to the company. GES specializes in production processing and test equipment design, volume manufacturing, and global services for the semiconductor and electronics product manufacturing industry.

Kimball Electronics says the acquisition is expected to 4 to 6 percent to the company's consolidated net sales in fiscal year 2019.

  • Perspectives

    • Baby in Your Future?

      There is nothing more special than a new baby! In addition to decorating the nursery, selecting a pediatrician, and buying those first wardrobe pieces, you also need to be financially prepared. And, if either parent will be taking off work, it’s important to understand the parental leave policy. When contemplating a pregnancy or an adoption, be sure to understand your employment benefits. Parental leave policies and insurance benefits can cover associated costs as well as...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • Indy, Atlanta Vie For Future FFA Conventions

      As the National FFA kicks of its National Convention and Expo in Indianapolis this week, the organization, and Indy convention planners, have an eye to what city will host future events. The 91st edition of the FFA convention is expected to attract nearly 70,000 attendees from every state in the nation, and pack a $40 million economic impact in the region. The lucrative event is committed to Indianapolis through 2024. Chief Executive Officer Mark Poeschl says...

    • Indiana Nonprofits Awarded Duke Energy Grants

      Plainfield-based Duke Energy Indiana says nearly two dozen nonprofits throughout the state will benefit from $315,000 in grants from the Duke Energy Foundation. The funding aims to support initiatives that enhance the regions where Duke customers live, work and play.

    • Harrison College Confirms Closure

      Indianapolis-based Harrison College has confirmed it has closed. In a statement released Friday evening, the college, which has 11 campuses in Indiana, Ohio and North Carolina, calls the move a "difficult business decision" and says it is working with partners to ensure students have the ability to complete their education. Harrison College says it will close The Chef's Academy in Indianapolis on October 14, which marks the...

    • United Way Names VP of Public Policy

      United Way of Central Indiana has named Mindi Goodpaster vice president of public policy. She will lead the organization's work to advocate for public policies that help eliminate barriers to education, financial stability, health and basic needs in our community. Goodpaster previously served as director of public policy and advocacy for the Marion County Commission on Youth.