Flex Acquires Data Center Power Manufacturer EPC Power In $4.4B Deal

Flex has agreed to acquire EPC Power for $4.4 billion, expanding its data center power and thermal management portfolio. The deal, subject to regulatory approval, is expected to close in Q4 2026. EPC will join Flex’s Cloud and Power Infrastructure segment, building on their existing partnership. EPC develops 800V power systems for AI data centers, including digital rectifiers and solid-state transformers. The acquisition will strengthen Flex’s integrated “grid-to-chip” power offering.

Commenting on the acquisition, Jim Fusaro, CEO of EPC, said: "What we accomplished over the last four years demonstrates the power of strong partnerships and a shared commitment to innovation. Together with Goldman Sachs Alternatives and Cleanhill Partners, EPC Power emerged as a US technology leader in power conversion solutions that enable the next generation of data centers, AI computing, and grid modernization. We expanded our domestic manufacturing footprint nearly tenfold, strengthening America's industrial base and reinforcing the critical role of US innovation in powering the future economy. This is only the beginning of what EPC Power can accomplish."

Flex, headquartered in Singapore, provides contract manufacturing and supports industries including data center power and cooling. It also plans to spin off its Cloud and Power Infrastructure business, where EPC will operate. Goldman Sachs and J.P. Morgan advised EPC Power and its shareholders, while Vinson & Elkins provided legal counsel.