Kimball Electronics acquires GES

From Local Sources

JASPER — Kimball Electronics Inc. announced Monday that it has, acting through its wholly-owned subsidiaries, completed the purchase of substantially all of the assets and assumed certain liabilities of GES Holdings Inc., Global Equipment Services and Manufacturing Inc. and its subsidiaries. 

As previously announced, the price was approximately $50 million, plus the assumed liabilities.

“The acquisition of GES is the first significant step in our new platform strategy and our plans to continue our development beyond EMS to a multifaceted manufacturing solutions company,” said Chris Thyen, vice president of new platforms at Kimball Electronics. “GES brings us new technologies and capabilities in automation, test, and measurement that will open new doors with new and existing customers.”

In fiscal year 2019, GES is expected to add 4 to 6 percent to Kimball Electronics’ consolidated net sales and to be neutral to slightly accretive to earnings per share.

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