IN Brief:
- Flex is acquiring Electrical Power Products in an all-cash transaction valued at about $1.1 billion including tax benefits.
- EP2 brings more than 35 years of experience in control panels, relay panels, and modular integrated control buildings.
- The deal broadens Flex’s reach in utility, power-generation, industrial, and adjacent power-infrastructure markets.
Flex has entered into a definitive agreement to acquire Electrical Power Products, broadening its critical power portfolio with a business focused on engineered-to-order electrical control and protection systems.
The all-cash transaction is valued at approximately $1.1 billion including anticipated tax benefits. Flex said the deal is expected to be accretive to adjusted earnings per share in the first full fiscal year after closing. Electrical Power Products, better known as EP2, brings more than 35 years of experience in the design, integration, and manufacture of relay panels, control panels, and modular integrated control buildings for utility, power-generation, and industrial customers.
That makes this more than a straightforward scale play. EP2’s product set sits in the infrastructure layer where electrical engineering, controls integration, and site deployment meet, covering systems that are assembled to customer specification rather than pulled from catalogue stock. Its manufacturing campus in Des Moines, Iowa, and its long-standing utility relationships also give Flex a stronger operational position in U.S. grid, industrial, and power-distribution projects.
The transaction reflects continued demand for equipment tied to utility upgrades, electrification, and power resilience. For Flex, the acquisition adds engineering depth as well as a more direct presence in control buildings and protection systems used in substations, generation assets, and other large-scale electrical installations where delivery, testing, and integration matter as much as component selection.
