Standard of Excellence: Anticipating Customer Needs Early and Often
The Knowledge Base: At the Forefront of Electronics Manufacturing
Global Citizenship: Training the Next Generation of Talent
Flex to Acquire Crown Technical Systems
October 21, 2024 | FlexEstimated reading time: 1 minute
Flex announced 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.
"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," said Revathi Advaithi, Chief Executive 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," said Norm Siddiqui, President, Crown Technical Systems. "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 further increases Flex exposure to fast-growing, margin accretive end-markets including modular data center adoption and medium voltage power distribution. It also extends Flex's power portfolio into the utility power market, supported by long-term trends in grid modernization and energy generation growth. At the same time, the acquisition strengthens Flex's critical power portfolio and accelerates our growth in the U.S. data center market.
Crown Technical Systems is expected to generate revenue of approximately $120 million and high-teens EBITDA margin in fiscal 2025, which ends on March 31, 2025. The transaction is expected to close no later than December 2024, subject to customary closing conditions, including regulatory approval.
Flex management will further discuss the acquisition on its upcoming earnings call on Wednesday, October 30, 2024, at 7:30 a.m. Central Time, 8:30 a.m. Eastern Time.
Share on:
Suggested Items
Mazda, ROHM Begin Joint Development of Automotive Components Using Next-Generation Semiconductors
03/28/2025 | ROHMMazda Motor Corporation and ROHM Co., Ltd. have commenced joint development of automotive components using gallium nitride (GaN) power semiconductors, which are expected to be the next-generation semiconductors.
Electronics in Harsh Environments Conference Program Announced
03/25/2025 | SMTASMTA Europe is proud to announce the 2025 Electronics in Harsh Environments Conference, taking place 20-22 May in Amsterdam, Netherlands. This global conference is a three-day technical event with 27 technical presentations focused on building reliable electronics used in power electronics and harsh environments.
Life in the Fast Lane: A Smooth Ride for Bill Cardoso's New Business Converting Cobra Roadsters to Electric
03/26/2025 | Barry Matties, IPC CommunityBill Cardoso has established quite a list of accomplishments behind his name, from nuclear scientist, organic farmer, and IPC member to entrepreneur and owner of the largest U.S.-based manufacturer in the field of X-ray inspection. Three years ago, though, he brought home a Cobra roadster, and his son’s visceral reaction led to yet another new business venture.
Siemens Expands Industrial Copilot with New Generative AI-powered Maintenance Offering
03/24/2025 | SiemensThe Siemens Industrial Copilot is revolutionizing industry by enabling customers to leverage generative AI across the entire value chain – from design and planning to engineering, operations, and services.
New Power Management Chips from TI Maximize Protection, Density and Efficiency for Modern Data Centers
03/24/2025 | Texas InstrumentsTexas Instruments (TI) debuted new power-management chips to support the rapidly growing power needs of modern data centers. As the adoption of high-performance computing and artificial intelligence (AI) increases, data centers require more power-dense and efficient solutions.