Flex (NASDAQ: FLEX), an Austin, TX-based company that helps a diverse customer base design and build products, acquired Crown Technical Systems, a company which specializes in integrated power distribution and protection systems, for $325M.
This acquisition will further increase Flex exposure to margin accretive end-markets including modular data center adoption and medium voltage power distribution. It will also extend Flex’s portfolio into the utility market, supported by long-term trends in grid modernization and energy generation growth.
Led by Norm Siddiqui, President, Crown Technical Systems brings nearly three decades of solving the most pressing power distribution and control challenges, with extensive capabilities in modular solutions, medium voltage switchgear, control, and relay products. The company serves customers spanning utilities, data centers, and power generation, with facilities in California, Texas, and Canada.
Led by CEO Revathi Advaithi, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets through the collective strength of a global workforce across 30 countries.
FinSMEs
17/10/2024