B. Riley Serves as Exclusive Financial Advisor to Kimball Electronics on the Divestiture of its Automation, Test, and Measurement Business
August 9, 2024
Source: B. Riley Securities, Inc.
LOS ANGELES, August 9, 2024 -- B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank, is pleased to have served as exclusive financial advisor to Kimball Electronics, Inc. (NASDAQ: KE) (“Kimball Electronics” or the “Company”) in the successful completion of the sale of its Automation, Test, and Measurement (“AT&M”) business to Averna Technologies.
Headquartered in Indiana, Kimball Electronics is a global manufacturing solutions provider of electronics and diversified contract manufacturing services to customers around the world. The Company first entered the automation, test, and measurement industry with the acquisition of Global Equipment Services, Inc. (GES) in 2018. AT&M provides advanced testing and inspection solutions for manufacturers in the industrial, medical, consumer electronics, and semiconductor sectors.
“We were delighted to advise Kimball Electronics and lead the divestiture process for its AT&M business. The sale of the business will allow Kimball Electronics to focus on its core operations, while simultaneously providing the AT&M business with a new owner that has tremendous depth, expertise and relationships in the test and measurement sector,” said Ryan Bernath, B. Riley’s Senior Managing Director who led the investment banking team on the assignment.
Rounding out the B. Riley team on this assignment alongside Ryan Bernath, was Chobun Hieblinger, Arjun Oza and Joe Nardini Jr.
Read more about the transaction here.
About B. Riley Securities
B. Riley has served as a preeminent fixture in middle market brokerage and investment banking for over 25 years. We provide a full suite of investment banking and capital markets services to companies, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, debt financings, corporate restructuring and recapitalization. Widely recognized for our thematic proprietary equity research, clients benefit from B. Riley's extensive network, industry expertise, and proven execution capabilities of our end-to-end financial services platform. Please see disclosures about B. Riley Securities Research here. The firm is a subsidiary of B. Riley Financial (Nasdaq: RILY). For more information, visit www.brileysecurities.com.
Headquartered in Indiana, Kimball Electronics is a global manufacturing solutions provider of electronics and diversified contract manufacturing services to customers around the world. The Company first entered the automation, test, and measurement industry with the acquisition of Global Equipment Services, Inc. (GES) in 2018. AT&M provides advanced testing and inspection solutions for manufacturers in the industrial, medical, consumer electronics, and semiconductor sectors.
“We were delighted to advise Kimball Electronics and lead the divestiture process for its AT&M business. The sale of the business will allow Kimball Electronics to focus on its core operations, while simultaneously providing the AT&M business with a new owner that has tremendous depth, expertise and relationships in the test and measurement sector,” said Ryan Bernath, B. Riley’s Senior Managing Director who led the investment banking team on the assignment.
Rounding out the B. Riley team on this assignment alongside Ryan Bernath, was Chobun Hieblinger, Arjun Oza and Joe Nardini Jr.
Read more about the transaction here.
About B. Riley Securities
B. Riley has served as a preeminent fixture in middle market brokerage and investment banking for over 25 years. We provide a full suite of investment banking and capital markets services to companies, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, debt financings, corporate restructuring and recapitalization. Widely recognized for our thematic proprietary equity research, clients benefit from B. Riley's extensive network, industry expertise, and proven execution capabilities of our end-to-end financial services platform. Please see disclosures about B. Riley Securities Research here. The firm is a subsidiary of B. Riley Financial (Nasdaq: RILY). For more information, visit www.brileysecurities.com.