Goldman Sachs Alternatives, Cleanhill Partners agree to $4.4bn sale of EPC Power to Flex
The deal is expected to close in the fourth quarter of 2026. EPC Power will join Flex’s Cloud and Power Infrastructure segment upon closing. The company has expanded its domestic manufacturing footprint nearly tenfold since 2021.
The private equity firms Goldman Sachs Alternatives and Cleanhill Partners have reached an agreement to sell EPC Power to Flex for an estimated $4.4 billion. EPC Power is a power conversion technology platform that was previously backed by both Goldman Sachs Alternatives and Cleanhill Partners. This transaction will see EPC Power integrated into Flex’s Cloud and Power Infrastructure segment once finalized. The acquisition is currently awaiting customary closing conditions, including necessary regulatory approvals. It is anticipated that the deal will officially close during the fourth quarter of 2026.
EPC Power specializes in the design and manufacturing of advanced power conversion systems. Their technology serves critical infrastructure, such as data centers, large-scale energy storage solutions for utilities, and microgrids. The company’s product portfolio includes innovative 800-volt data center power architectures, featuring digital rectifiers and solid-state transformers, which are essential components for modern power management.
Goldman Sachs Alternatives and Cleanhill Partners initially invested in EPC Power in 2021. Since that initial investment, EPC Power has significantly expanded its operational capabilities. A notable achievement during this period was a nearly tenfold increase in its domestic manufacturing footprint, underscoring a strategic growth trajectory under the ownership of the private equity firms.
Upon the completion of the sale, EPC Power will become a constituent part of Flex’s Cloud and Power Infrastructure business unit. This integration is expected to leverage EPC Power's specialized technology and manufacturing capabilities within Flex's broader operational framework, particularly in supporting cloud and data center infrastructure needs.
This transaction signals continued strong interest and investment activity in the energy and power technology sector, especially within critical infrastructure components like power conversion systems for data centers and renewable energy integration. The substantial valuation and the strategic acquisition by a major electronics manufacturer like Flex suggest a robust market for innovative solutions addressing the growing demand for efficient power management and green energy transitions.