Flex acquires EPC Power for $4.4 billion to enhance data center power conversion capabilities
Type: Acquisition · Technology: Data Center · Country: null · Value: $4.4B · Announced: 2026-09-04
Flex will acquire EPC Power for $4.4 billion, adding 800V DC, grid-forming, and other power-conversion technologies to its data center infrastructure business. The deal is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other closing conditions. EPC Power develops power-conversion systems for data centers, utility-scale energy storage, and microgrids, including digital rectifiers and DC-DC converters. Flex plans to spin off its Cloud and Power Infrastructure segment, which EPC Power will join, as an independent public company in the first quarter of 2027. This acquisition is seen as making power conversion a more strategic control point in AI infrastructure, as rack and campus power densities increase. Goldman Sachs Alternatives and Cleanhill Partners acquired a majority stake in EPC Power in 2022, following an initial investment in 2021.
Counterparties
- Cleanhill Partners (Parent Company)
- Goldman Sachs Alternatives (Parent Company)
- Flex (Buyer)
- EPC Power Corp. (Seller)
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