Kimball Electronics buys injection molding assets
Kimball Electronics Inc. has acquired the assets of two Indianapolis-based companies — Aircom Manufacturing Inc, and its subsidiary Medivative Technologies LLC — according to Securities and Exchange Commission filings.
Jasper, Ind.-based Kimball bought certain assets of Aircom, an injection molder, assembler and metal fabricator, for about $3.5 million on July 18. Kimball said it bought Aircom’s 80,000-square-foot facility, production equipment, inventory, assumed certain liabilities and hired about 100 of its employees.
“Completing the Aircom acquisition is another important step in our strategy to expand our package of value by offering our customers design, engineering and manufacturing expertise in metals and plastics,” said Don Charron, chairman and CEO of Kimball Electronics, in a statement.
Aircom was founded by Robert Lyon in 1960 and has been operated by the Lyon family for more than 55 years.
Kimball also spent about $8.3 million on May 2 to acquire certain assets from medical device contractor Medivative Technologies. Medivative was a subsidiary of Aircom.
Kimball Electronics is a global contract electronics manufacturer. It specializes in the medical, automotive, industrial and public safety markets.
Kimball has U.S. manufacturing sites in Jasper, Indianapolis, and Tampa, Fla. It has international operations in Reynosa, Mexico; Poznan, Poland; Timisoara, Romania; Laem Chabang, Thailand; and Nanjing, China.
The company is publicly traded on the NASDAQ stock exchange and is a 2014 spinoff of Kimball International Inc.
