Flex completes acquisition of Crown Technical Systems
Flex has completed its previously announced USD 325 million all-cash acquisition of Crown Technical Systems, a leader in fully integrated power distribution and protection systems.
The acquisition further increases Flex's exposure to growing, margin accretive end-markets, including modular data centre adoption and medium voltage power distribution, and extends the company's power portfolio into the utility power market. Additionally, the deal strengthens Flex's critical power portfolio and supports further growth in the U.S. data centre market.
"We are pleased to welcome the Crown Technical Systems team officially to Flex," says Revathi Advaithi, CEO, of Flex in a press release. "This transaction strategically strengthens our unique EMS + Products + Services data center and power portfolio and expands our presence in high growth markets to help drive long-term value for our customers and shareholders."
Crown Technical Systems is expected to generate revenue of approximately USD 120 million and high-teens EBITDA margin in fiscal 2025, which ends on March 31, 2025.
