Flex Ltd 8-K, filed Dec 1, 2021
Flex Ltd. (FLEX)
8-K
2021-12-01
For: 2021-12-01
View Original
Added on
April 10, 2026
About this 8-K
Flex Ltd filed this 8-K on December 1, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 1, 2021
(Exact Name of Registrant as Specified in Its Charter)
| Not Applicable | |||||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (65 ) 6876-9899
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||||||||
| Emerging growth company | ||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | |||||||
Item 7.01 Regulation FD Disclosure.
On December 1, 2021, Flex Ltd. (the “Company”) issued a press release announcing that the Company had completed its acquisition of Anord Mardix. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
The information in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | |||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | ||||
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FLEX LTD. | |||||||||||
Date: December 1, 2021 | |||||||||||
| By: | /s/ Paul R. Lundstrom | ||||||||||
| Name: Title: | Paul R. Lundstrom Chief Financial Officer | ||||||||||
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Exhibit 99.1
PRESS RELEASE
Flex Completes Acquisition of Anord Mardix
San Jose, Calif., December 1, 2021 – Flex (NASDAQ: FLEX) announced today it has completed its previously announced $540 million all-cash acquisition of Anord Mardix, a global leader in critical power solutions, from private equity firm Bertram Capital. The acquisition strengthens Flex’s Industrial business, adding to Flex's portfolio of power solutions and expanding its offerings in the rapidly growing data center market.
“We are excited to complete this transaction and welcome the Anord Mardix team to Flex,” said Revathi Advaithi, CEO of Flex. “This transaction advances Flex’s shift toward higher margin lines of business and meaningfully strengthens our ability to offer leading data center power solutions for new and existing customers around the world.”
Anord Mardix is projected to generate approximately $360 million in revenue in calendar year 2021, and the transaction is expected to be accretive to adjusted earnings per share and deliver mid-teens EBITDA margins in fiscal year 2023, which begins April 1, 2022. For reporting purposes, Anord Mardix will be included in the Industrial business unit inside Flex's Reliability Solutions segment.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements related to the expected benefits of the acquisition of Anord Mardix and Anord Mardix's expected revenue and impact on Flex’s financial results. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. These risks include: the possibility that Flex may not fully realize the projected benefits of the acquisition; the possibility that Anord Mardix's revenue and earnings may not meet expectations; business disruption following the acquisition; diversion of management time on acquisition-related issues; the reaction of customers and other persons to the acquisition; and other events that could adversely impact the expected benefits of the acquisition, including the ongoing COVID-19 pandemic and other industry or economic conditions outside of our control. In addition, actual results are subject to other risks and uncertainties that relate more broadly to Flex’s overall business, including those more fully described in Flex’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the fiscal year ended March 31, 2021 and subsequent quarterly reports on Form 10-Q. The forward-looking statements in this press release are based on current expectations and Flex assumes no obligation to update these forward-looking statements.
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.
Investors & Analysts
David Rubin
Vice President, Investor Relations
investor.relations@flex.com
Media & Press
Mark Plungy
Director, Corporate Integrated Communications
(408) 442-1691
Mark.Plungy@flex.com
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