Flex Completes Acquisition of Anord Mardix


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Flex announced that it has completed its previously announced $540 million all-cash acquisition of Anord Mardix, a global leader in critical power solutions, from private equity firm Bertram Capital. The acquisition strengthens Flex’s Industrial business, adding to Flex's portfolio of power solutions and expanding its offerings in the rapidly growing data center market.

“We are excited to complete this transaction and welcome the Anord Mardix team to Flex,” said Revathi Advaithi, CEO of Flex. “This transaction advances Flex’s shift toward higher margin lines of business and meaningfully strengthens our ability to offer leading data center power solutions for new and existing customers around the world.” 

Anord Mardix is projected to generate approximately $360 million in revenue in calendar year 2021, and the transaction is expected to be accretive to adjusted earnings per share and deliver mid-teens EBITDA margins in fiscal year 2023, which begins April 1, 2022. For reporting purposes, Anord Mardix will be included in the Industrial business unit inside Flex's Reliability Solutions segment.

 

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