SINGAPORE (dpa-AFX) - Flex (FLEX) has agreed to acquire Anord Mardix, a provider of critical power solutions, from Bertram Capital. The all-cash transaction is valued at $540 million. Anord Mardix produces an end-to-end product range including switchgear, custom built modular, and flexible data hall busway distribution solutions, serving the global data center and cloud computing industries.
Revathi Advaithi, CEO of Flex, said: 'With Anord Mardix, Flex's business will be better positioned to capture rising global demand for data center power solutions.'
Flex expects the deal to be accretive to adjusted earnings per share and to deliver mid-teens EBITDA margins in fiscal 2023. Anord Mardix is on track to produce approximately $360 million in revenue in calendar 2021, Flex noted.
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