10.18.21
Flex announced it has entered into a definitive agreement to acquire Anord Mardix, a global leader in critical power solutions, from private equity firm Bertram Capital. The acquisition adds to Flex's portfolio of Power products and expands its offering in the data center market.
The $540 million all-cash transaction has been unanimously approved by Flex's Board of Directors and is expected to close in the fourth quarter of calendar 2021, subject to customary closing conditions, including regulatory approval.
Anord Mardix was established in 2018 as a result of a business combination between Anord Control Systems and Mardix, each with more than 50 years of engineering experience. Anord Mardix offers an extensive product portfolio of critical power solutions including switchgear, busway, power distribution and modular power systems, along with monitoring solutions and services.
This portfolio combined with Flex's embedded power, server and storage products, racks and enclosures and full systems assembly capability will accelerate the company's growth in the data center market. Anord Mardix will also leverage Flex's global footprint and supply chain.
"This acquisition builds on Flex's previously articulated strategy to move toward higher margin opportunities in faster growing verticals in our Reliability business," said Revathi Advaithi, CEO of Flex. "With Anord Mardix, Flex's business will be better positioned to capture rising global demand for data center power solutions."
Anord Mardix is on track to generate approximately $360 million in revenue in calendar 2021 and is well positioned for continued growth in the coming years.
The $540 million all-cash transaction has been unanimously approved by Flex's Board of Directors and is expected to close in the fourth quarter of calendar 2021, subject to customary closing conditions, including regulatory approval.
Anord Mardix was established in 2018 as a result of a business combination between Anord Control Systems and Mardix, each with more than 50 years of engineering experience. Anord Mardix offers an extensive product portfolio of critical power solutions including switchgear, busway, power distribution and modular power systems, along with monitoring solutions and services.
This portfolio combined with Flex's embedded power, server and storage products, racks and enclosures and full systems assembly capability will accelerate the company's growth in the data center market. Anord Mardix will also leverage Flex's global footprint and supply chain.
"This acquisition builds on Flex's previously articulated strategy to move toward higher margin opportunities in faster growing verticals in our Reliability business," said Revathi Advaithi, CEO of Flex. "With Anord Mardix, Flex's business will be better positioned to capture rising global demand for data center power solutions."
Anord Mardix is on track to generate approximately $360 million in revenue in calendar 2021 and is well positioned for continued growth in the coming years.