Stratrix
On the Record · Flex

Flex acquisitions, on the record

The businesses Flex bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Nextracker
Word for word“On January 2, 2024, the Company completed its previously announced spin-off of its remaining interests in Nextracker (the "Spin-off") to Flex shareholders on a pro-rata basis based on the number ordinary shares of Flex held by each shareholder of Flex (the “Distribution”) as of December 29, 2023, which was the record date of the Distribution, pursuant to the Agreement and Plan of Merger, dated as of February 7, 2023.” 10-K for 2024
divestitureOn January 2, 2024—
Anord Mardix
Word for word“On December 1, 2021, the Company completed the business acquisition of Anord Mardix, a global leader in critical power solutions for an initial purchase consideration of $ 523 million, net of $ 25 million cash acquired, with an additional $ 17 million deferred purchase price paid out in the fourth quarter of fiscal year 2022, for a total purchase consideration of $ 539 million.” 10-K for 2024
acquisitionOn December 1, 2021initial purchase consideration of $ 523 million, net of $ 25 million cash acquired, with an additional $ 17 million deferred purchase price paid out in the fourth quarter of fiscal year 2022, for a total purchase consideration of $ 539 million
a non-strategic immaterial business within the FRS segment
Word for word“A reduction of approximately $ 1 million as a result of the divestiture of a non-strategic immaterial business within the FRS segment in fiscal year 2024.” 10-K for 2024
divestiturein fiscal year 2024approximately $ 1 million
a non-strategic business within the FRS segment
Word for word“During the fiscal year ended March 31, 2023, the Company disposed of a non-strategic business within the FRS segment and received approximately $ 4 million of proceeds.” 10-K for 2024
divestitureDuring the fiscal year ended March 31, 2023approximately $ 4 million of proceeds
JetCool Technologies Inc.
Word for word“These included the acquisitions of JetCool Technologies Inc. ("JetCool") to expand direct-to-chip liquid cooling capabilities and Crown Technical Systems ("Crown") to increase critical power capabilities while adding opportunities in grid modernization.” 10-K for 2025
acquisition——
Crown Technical Systems
Word for word“Crown, acquired by Flex in fiscal year 2025, provides fully integrated power distribution and protection systems, including modular solutions, medium voltage switchgear, control, and relay products for data centers, utilities, and power generation.” 10-K for 2025
acquisitionfiscal year 2025—
JetCool
Word for word“For liquid cooling, JetCool, also acquired by Flex in fiscal year 2025, mitigates data center heat challenges with patented microconvective cooling technology, capable of cooling over 3,000W, as well as offering complete turn-key microconvective cooling systems that include fully-sealed cold plates, direct liquid-to-chip products, and a coolant distribution unit (CDU).” 10-K for 2025
acquisitionfiscal year 2025—
Nextracker Inc. (remaining interests, spin-off to Flex shareholders)
Word for word“Under the terms of the spin-off, Flex shareholders received approximately 0.17 shares of Nextracker Class A common stock for each Flex ordinary share held as of the record date of the Distribution.” 10-K for 2025
divestiture—approximately 0.17 shares of Nextracker Class A common stock for each Flex ordinary share
Orangeburg manufacturing facility
Word for word“This was primarily driven by $0.4 billion of cash paid for the acquisitions of the Orangeburg manufacturing facility, Crown and JetCool, net of cash acquired, and $0.4 billion of capital expenditures for property and equipment to continue expanding capabilities and capacity in support of our businesses.” 10-K for 2025
acquisition——
Acquired business producing a gain on bargain purchase
Word for word“The increase in other income, net was primarily driven by a gain on bargain purchase of $19 million as a result of an acquisition occurring during the fourth quarter of fiscal year 2025.” 10-K for 2025
acquisitionfourth quarter of fiscal year 2025—
Non-strategic immaterial business in the FRS segment
Word for word“(1) A reduction of approximately $ 1 million as a result of the divestiture of a non-strategic immaterial business within the FRS segment in fiscal year 2024.” 10-K for 2025
divestiturefiscal year 2024—
a manufacturing business in Bielsko Biała, Poland
Word for word“On April 30, 2025, the Company completed the acquisition of a manufacturing business in Bielsko Biała, Poland, for total purchase consideration of $ 35 million.” 10-K for 2026
acquisitionApril 30, 2025$ 35 million
Crown
Word for word“On November 19, 2024, the Company completed the business acquisition of 100 % ownership of Crown, a U.S. leader in critical power solutions for a total purchase consideration of $ 319 million, including cash of $ 313 million and a $ 6 million estimate of customary closing adjustments.” 10-K for 2026
acquisitionNovember 19, 2024$ 319 million
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Cash received from selling businessesGoodwill from acquisitions
2017-03-31$189.1 million$30.7 million—
2018-03-31$268.4 million——
2019-03-31$13 million——
2020-03-31$1 million——
2021-03-31$0——
2022-03-31$539 million—$272 million
2023-03-31−$2 million$4 million—
2024-03-31$0$14 million—
2025-03-31$405 million—$209 million
2026-03-31$40 million—$8 million

Deal filings since 2016

Read from Flex’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024) and the financial data it files with the SEC, as of 2026-05-20. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.