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5h ago

Flex to Buy EPC Power for $4.4 Billion

Flex will integrate EPC Power into its Cloud and Power Infrastructure unit to speed data‑center power deployment, positioning that unit for a planned Q1 2027 spin‑out.

CEO Jim Fusaro, speaking at the opening of EPC Power's 27GW South Carolina facility in July. The plant manufactures equipment, including EPC Power's power inverters and AI data centre environments using the company's proprietary Agile Grid Forming technology. Image: EPC Power
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Overview

  • The two companies signed a definitive agreement announced Sept. 3 that will see Flex acquire EPC Power for $4.4 billion subject to customary regulatory approvals and a planned close in Q4 2026.
  • Flex says EPC Power will join its Cloud and Power Infrastructure (CPI) segment and is expected to generate about $800 million of revenue in 2026 with roughly 40% growth and near 30% EBITDA margin in 2027.
  • EPC Power designs high‑performance power conversion systems used by AI data centers, utility‑scale storage and microgrids, including 800‑volt architectures, digital rectifiers and Agile Grid Forming controls that help sites turn on capacity faster and ride through grid instability.
  • The company recently expanded U.S. manufacturing with a third facility in South Carolina that added 27 GW of nameplate capacity rampable to 40 GW, a point Flex and investors say strengthens domestic supply given new U.S. import restrictions on bulk power equipment.
  • The transaction was backed by controlling shareholders Goldman Sachs Alternatives and Cleanhill Partners with Goldman Sachs & Co. LLC and J.P. Morgan as financial advisers, and it could reshape competition for domestically made power electronics used by high‑power AI and grid projects.