Flex To Acquire Crown Technical Systems, For $325M In An All-Cash Transaction

• Leader in custom-engineered, fully integrated power distribution and protection systems
• Extensive modular solutions and medium voltage switchgear capabilities are synergistic to the Flex data center power portfolio
• Extends Flex's presence into the growing utility power market and supports further growth in the U.S. data center power market

AUSTIN, Texas, Oct. 17, 2024 /PRNewswire/ -- Flex (NASDAQ:FLEX) announced today that it has entered into a definitive agreement to acquire Crown Technical Systems, a leader in fully integrated power distribution and protection systems, for $325 million in an all-cash transaction. The transaction is expected to be accretive in the first year after closure.

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. Crown Technical Systems has a diverse set of long-standing customers spanning utilities, data centers, and power generation, with facilities in California, Texas, and Canada.