Flex has agreed to acquire EPC Power, a maker of power conversion equipment for data centers, in a transaction valued at approximately $4.4 billion. Subject to regulatory approval, the deal is expected to close in the fourth quarter of this year.
Singapore-based manufacturer Flex has agreed to acquire US-based EPC Power, which designs and manufactures power conversion equipment for data centers. The acquisition is reportedly valued at approximately $4.4 billion and is expected to close subject to regulatory approval. Following completion, EPC Power is expected to operate as part of Flex's Cloud and Power Infrastructure segment.
EPC Power develops 800V-capable power architectures for data centers and provides solutions including digital rectifiers and solid-state transformers. Through the acquisition, Flex aims to expand integrated solutions spanning the grid to the chip by combining its power management and thermal management portfolios.
EPC Power was established in 2021 and has been backed by Goldman Sachs Alternatives and Cleanhill Partners. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisers supporting the acquisition, with Vinson & Elkins LLP acting as legal adviser.