RA Capital served as exclusive financial advisor to Electrical Power Products (“EP2”) on its pending sale to Flex (NASDAQ: FLEX) in a transaction valued at approximately $1.1 billion.
This acquisition complements and expands Flex’s exposure to high-growth, margin-accretive end markets shaped by long term trends such as grid modernization, electrification, data center buildout, and U.S. reshoring. It broadens the Critical Power portfolio, deepens Flex’s utility presence, and enhances engineered-to-order power distribution and control capabilities. EP2 adds strong engineering talent, a major Midwest manufacturing footprint, and long-term customer relationships.
“The addition of EP2 expands our capabilities to play a larger role in modernizing the electrical backbone of the U.S., while broadening the portfolio of critical power technologies we can offer our customers. As utilities operators navigate unprecedented demand and complexity, EP2’s engineered-to-order expertise and customer-centric approach will strengthen our ability to deliver dependable, scalable, and innovative power solutions.”
– Revathi Advaithi, Chief Executive Officer of Flex
“This agreement positions EP2 to accelerate growth while continuing our customer-focused, engineering-driven culture. Flex’s scale, global capabilities, and commitment to investment support long-term opportunity for our employees and customers. We look forward to joining Flex and building on our momentum.”
– Tim O’Donnell, President of EP2
To get in touch with RA Capital, please contact Jeff Dittmer (jdittmer@raca.com).
About Electrical Power Products
EP2 is a leading provider of engineered-to-order electrical power control and protection systems, supporting the safety, reliability, and resilience of essential electric grid infrastructure in the United States.
Founded in 1988, EP2 has more than 35 years of experience designing, integrating, and manufacturing highly engineered control and relay panels and modular, integrated control buildings for utility, power generation, data center, and industrial customers. EP2 serves a diverse set of longstanding customers and operates a scaled, state-of-the-art manufacturing campus in Des Moines, Iowa.
About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.