Flex Completes Acquisition of Electrical Power Products (EP²)
Rhea-AI Summary
Flex (NASDAQ: FLEX) completed the acquisition of Electrical Power Products (EP²) on May 4, 2026, adding engineered‑to‑order electrical power control and protection capabilities.
The deal expands Flex's Critical Power portfolio, strengthens presence in utility, power generation and data center markets, and adds a Midwest manufacturing footprint supporting U.S. reshoring. EP² brings more than 35 years of engineering and manufacturing experience and will be integrated into Flex's Embedded and Critical Power business.
Positive
- Adds engineered‑to‑order electrical power control and protection capabilities
- Strengthens presence in utility, power generation, and data center markets
- Adds scaled Midwest manufacturing footprint supporting U.S. reshoring
- Integrates EP² into Embedded and Critical Power business
- Brings EP²'s >35 years of engineering and manufacturing experience
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
FLEX was modestly higher by 0.16% with mixed peer action: JBL, CLS, and FN up between roughly low-to-mid single digits, while TEL and GLW were down. No peers appeared in the momentum scanner, pointing to a stock-specific backdrop.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 30 | Acquisition agreement | Positive | -6.5% | Announced all-cash EP² acquisition to expand Critical Power portfolio. |
| Sep 08 | Peer acquisition news | Positive | +0.6% | Nextracker acquired Origami Solar to enter solar panel frame market. |
| Nov 20 | Acquisition completion | Positive | +6.7% | Flex completed $325M Crown Technical Systems acquisition, boosting power exposure. |
| Nov 14 | Technology acquisition | Positive | -1.2% | Flex acquired JetCool to enhance liquid cooling for data centers and AI workloads. |
| Oct 17 | Acquisition announcement | Positive | +1.7% | Flex announced plan to buy Crown Technical Systems for $325M in cash. |
Acquisition headlines for Flex have generally been received positively, but with notable exceptions: three prior acquisitions aligned with the bullish tone, while two saw negative reactions despite constructive fundamentals.
Over the past 18 months, Flex has repeatedly used acquisitions to build its power and data center capabilities. On Oct 17, 2024, it announced the Crown Technical Systems deal, followed by completion on Nov 20, 2024, both tied to revenue growth and utility exposure. The Mar 30, 2026 agreement to acquire EP² extended this Critical Power strategy but saw a -6.53% move. Today’s completion connects directly to that earlier announcement, marking the transition from deal signing to integration.
Historical Comparison
Past acquisition headlines for Flex and peers produced an average move of 0.26%, suggesting this type of strategic deal typically has a modest single-day impact.
Flex’s acquisition path shows a pattern: announcing power-focused deals such as Crown in Oct 2024, then completing them in Nov 2024. The EP² transaction follows the same arc, moving from agreement on Mar 30, 2026 to completion in May 2026, reinforcing a multi-year build-out of its Critical Power and utility infrastructure capabilities.
Market Pulse Summary
This announcement confirms Flex’s completion of the EP² acquisition, extending its Critical Power capabilities for utilities, power generation, and data centers. It follows the earlier Mar 30, 2026 agreement and mirrors prior deals like Crown Technical Systems and JetCool that built out power and cooling solutions. Key considerations include integration of EP²’s U.S. manufacturing footprint, realization of engineered-to-order benefits, and how this fits alongside upcoming catalysts such as scheduled earnings updates and recent regulatory filings.
AI-generated analysis. Not financial advice.
News summary
- Expands Flex's Critical Power portfolio with engineered-to-order electrical power control and protection capabilities
- Strengthens utility and power generation market presence through deep engineering expertise and
U.S. manufacturing scale - Supports long term growth driven by grid modernization, electrification, data center demand, and
U.S. reshoring
EP² expands Flex's Critical Power offering, adding engineered‑to‑order capabilities that support utility, power generation and data center customers. The addition strengthens Flex's ability to deliver scalable, customized power control and protection solutions for grid modernization, electrification, and growing data center demand, while adding a scaled Midwest manufacturing presence that supports
"We are pleased to welcome the EP² team to Flex," said Revathi Advaithi, Chief Executive Officer of Flex. "This acquisition strengthens our Critical Power platform and supports our strategy to meet growing demand for resilient electrical infrastructure. EP²'s engineering expertise, customer‑focused culture, and utility‑grade solutions further enhance our power portfolio."
Headquartered in
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps leading brands design, build, and manage products that improve the world. With a global footprint spanning 30 countries, Flex delivers advanced manufacturing and supply chain solutions, innovative products and technology, and lifecycle services that support customers from concept to scale. In the AI era, Flex is helping customers accelerate data center deployment by solving power, heat, and scale challenges through cutting-edge power and cooling technology and scalable IT infrastructure solutions. For more information, visit flex.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of
Investor and Press Contacts
Investors & Analysts
Michelle Simmons
Senior Vice President, Global Investor Relations and Public Relations
(669) 242-6332
Michelle.Simmons@flex.com
Press Contact
press@flex.com
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SOURCE Flex