Happy’s Tech Talk #32: Three Simple Ways to Manage and Control Wet Processes
It’s Only Common Sense: Selling With Confidence
The New Chapter: The Impact of Parasitics on PCB DesignKimball Electronics Sells Automation, Test, and Measurement Business to Focus on Core Electronics Manufacturing Services
August 2, 2024 | BUSINESS WIREEstimated reading time: 1 minute
Kimball Electronics, Inc. announced the completion of the divestiture of its Automation, Test, and Measurement (AT&M) business. The sale to Averna Technologies Inc. closed on July 31, 2024, with the proceeds from the transaction being used for support of organic growth, debt reduction, and share repurchases.
Kimball Electronics entered the automation, test, and measurement industry with the acquisition of Global Equipment Services, Inc. (GES) in 2018. In May 2024, it announced that AT&M had been classified as a business held for sale. AT&M provides advanced testing and inspection solutions for manufacturers in the industrial, medical, consumer electronics, and semiconductor sectors.
Commenting on today’s announcement, Richard D. Phillips, Chief Executive Officer of Kimball Electronics, stated, "While we have made significant strides enhancing our capabilities in AT&M since the acquisition of GES, we determined that it is not a good strategic fit for Kimball and that focusing on core EMS operations aligns best with strategic priorities and longer-term growth opportunities for the Company. AT&M will be well-positioned under new ownership with expertise in testing and measurement, broad industry knowledge, and established client relationships. We thank the team for their contributions and wish them success moving forward."
"The addition of the GES team, and its footprint in Silicon Valley and Asia, is a perfect fit for Averna," explained Francois Rainville, CEO of Averna. "This will further strengthen our position as one of the worldwide leaders focused in automation, test, and measurement. Now with 1,200 professionals spanning across the Americas, Europe and Asia, we can better partner with our global customers in all aspects of their product test requirements, wherever they are. We welcome our new teammates and are looking forward to this new chapter in Averna’s story."
B. Riley Securities acted as the exclusive financial advisor on the transaction.
Share on:
Suggested Items
Dynabrade Launches Autobrade: Pioneering Robotic Integration of Automated Surface Conditioning Solutions
08/01/2024 | DynabradeDynabrade, a global leader in the field of pneumatic hand tools and surface treatment solutions, proudly announces the launch of Autobrade, a new subsidiary dedicated to leading the industry in robotic integration of automated surface conditioning solutions and innovative process improvements for industries worldwide.
Plasmatreat Announces 'Book-a-Demo' Service
07/03/2024 | PlasmatreatAtmospheric plasma technology has established itself as a universal problem solver for processing a wide range of materials in a variety of industries. Anyone looking for the right plasma surface treatment for their product or material combination can book the flexible "Book-a-Demo" service from Plasmatreat GmbH in Steinhagen - and see for themselves the performance and possibilities of plasma.
Real Time with... IPC APEX EXPO 2024: Final Finishes and IC Substrate Manufacturing
04/24/2024 | Real Time with...IPC APEX EXPOEditor Marcy LaRont and Richard DePoto, Uyemura's Business Development Manager, engage in a comprehensive discussion about the positive aspects of the show, the benefits of RAIG in final finishes, and the hurdles faced when upgrading your surface finish. Also discussed are the role of Uyemura's MEC pretreatment agents in IC substrate manufacturing and the importance of collaboration and knowledge sharing.
Water Management in a Large Printed Circuit Board Manufacturer
04/15/2024 | Charles Nehrig, TTM TechnologiesTTM’s environmental management is grounded in its Environmental Statement and Environmental Policy, which promote measures that make for a more responsible environmental management process. Our management system helps TTM work toward minimizing its environmental footprint and increasing the sustainability of its operations. TTM monitors its environmental performance just as it monitors its operational performance, and provides the resources required to adhere to the Company’s environmental responsibilities.
Plasmatreat at IPC APEX EXPO 2024
04/02/2024 | PlasmatreatFor the pretreatment of highly sensitive electronic components, Plasmatreat will present a real innovation at the IPC APEX Expo in Anaheim 2024: The new REDOX tool safely and effectively reduces oxide layers on electronic components in an inline process.