Flex to Achieve Crown Technical Programs

• Chief in custom-engineered, totally built-in energy distribution and coverage techniques
• In depth modular answers and medium voltage switchgear features are synergistic to the Flex knowledge heart energy portfolio
• Extends Flex’s presence into the rising virtue energy marketplace and helps additional expansion within the U.S. knowledge heart energy marketplace

AUSTIN, Texas, Oct. 17, 2024 /PRNewswire/ — Flex (NASDAQ: FLEX) introduced as of late that it has entered right into a definitive assurance to procure Crown Technical Systems, a pacesetter in totally built-in energy distribution and coverage techniques, for $325 million in an all-cash transaction. The transaction is predicted to be accretive within the first era later closure.

Crown Technical Programs brings just about 3 many years of fixing probably the most urgent energy distribution and regulate demanding situations, with in depth features in modular answers, medium voltage switchgear, regulate, and relay merchandise. Crown Technical Programs has a numerous all set of long-standing shoppers spanning utilities, knowledge facilities, and gear month, with amenities in California, Texas, and Canada.

“The addition of Crown Technical Systems strengthens our position to help customers solve power, heat, and scale challenges in the data center space aligned with our long-term growth strategy,” mentioned Revathi Advaithi, Important Govt Officer of Flex. “This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value.”

“This deal brings together complementary products and teams, marking a superb outcome for Crown’s employees and customers,” mentioned Norm Siddiqui, President, Crown Technical Programs. “We are excited to join the Flex team and accelerate growth through Flex’s global reach and strong presence in markets such as data centers.”

This acquisition additional will increase Flex publicity to fast-growing, margin accretive end-markets together with modular knowledge heart adoption and medium voltage energy distribution. It additionally extends Flex’s energy portfolio into the virtue energy marketplace, supported through long-term traits in grid modernization and effort month expansion. On the identical future, the purchase strengthens Flex’s essential energy portfolio and hurries up our expansion within the U.S. knowledge heart marketplace.

Crown Technical Programs is predicted to generate earnings of roughly $120 million and high-teens EBITDA margin in fiscal 2025, which results on March 31, 2025. The transaction is predicted to alike refuse then than December 2024, matter to standard extreme situations, together with regulatory esteem.

Flex control will additional speak about the purchase on its then profits name on Wednesday, October 30, 2024, at 7:30 a.m. Central Moment, 8:30 a.m. Jap Moment.

About Flex
Flex (Reg. Incorrect. 199002645H) is the producing spouse of selection that is helping a numerous buyer bottom design and assemble merchandise that give a boost to the sector. In the course of the collective energy of an international staff throughout 30 nations and accountable, sustainable operations, Flex delivers era innovation, provide chain, and production answers to numerous industries and stop markets.

Contacts
Buyers & Analysts 
David A. Rubin 
Vice President, Investor Members of the family 
(408) 577-4632 
[email protected]

Media & Press 
Jessica Anderson 
Director, Company Built-in Advertising and Communications 
(408) 577-4789
[email protected] 

Ahead-Having a look Statements

This press loose incorporates forward-looking statements throughout the which means of U.S. securities rules, together with statements linked to our deliberate acquisition of Crown Technical Programs, the anticipated timing for the extreme of the purchase, expected advantages of the purchase akin to earnings and EBITDA month, and common industry outlook. Those forward-looking statements contain dangers and uncertainties that might motive the original effects to range materially from the ones expected through those forward-looking statements. Readers are cautioned to not park undue reliance on forward-looking statements. Those dangers come with: the chance that we won’t totally understand the projected advantages of the purchase in a well timed method or in any respect; the chance that regulatory and alternative approvals and situations to the purchase aren’t gained or glad on a well timed foundation or in any respect; the chance that the transaction won’t alike or that the extreme is also not on time; industry disruption throughout the pendency of or following the purchase; sleep of control future on acquisition-related problems; the blended operations is probably not effectively built-in; the response of shoppers and alternative individuals to the purchase; and alternative occasions that might adversely affect the finishing touch of the purchase or the expected advantages of the purchase, together with business or financial situations out of doors of our regulate. As well as, original effects are matter to alternative dangers and uncertainties that relate extra widely to our general industry, together with the ones extra totally described in our filings with the Securities and Trade Fee, together with our most up-to-date Annual Record on Mode 10-Okay and in our next filings. The forward-looking statements on this press loose are in keeping with wave expectancies and Flex assumes refuse legal responsibility to replace any forward-looking statements.

SOURCE Flex

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