FLEX LTD. acquired Crown Technical Systems for $325 million, a transaction completed in November 2024, structured as all cash.
Crown Technical Systems operates in Reliability Solutions - Industrial / Critical Power (Data Center & Utility), is based in California and Texas (USA) and Canada, had revenue of about approximately $120 million revenue with high-teens EBITDA margin expected in fiscal 2025. Flex acquired Crown Technical Systems, a leader in custom-engineered, fully integrated power distribution and protection systems with nearly three decades of capabilities in modular solutions, medium voltage switchgear, control and relay products, serving utilities, data centers and power generation. Facilities span 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.
Margin-accretive exposure to modular data center adoption, medium voltage power distribution and the utility power market. Synergistic with Flex's data center power portfolio; extends presence into the growing utility power market and U.S. data center power market. Reliability Solutions segment - critical power / data center portfolio
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. This acquisition reaffirms our commitment to differentiate our value through our EMS + Products + Services strategy that will deliver longer-term shareholder value.Revathi Advaithi, CEO, Flex
This deal brings together complementary products and teams, marking a superb outcome for Crown's employees and customers. 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.Norm Siddiqui, President, Crown Technical Systems
Advisory firms were not disclosed for this transaction.