FOSTER CITY, Calif.,
Oct. 19, 2021 /PRNewswire/
-- Bertram Capital ("Bertram") announced today its portfolio
company Anord Mardix has entered into an agreement with Flex
(NASDAQ: FLEX), a global diversified manufacturer, pursuant to
which Flex will acquire Anord Mardix. Headquartered in Kendal, UK, Anord Mardix is a leading global
provider of critical power solutions and services for the data
center and industrial markets. The $540
million all-cash transaction has been unanimously approved
by Flex's Board of Directors and is expected to close in the fourth
quarter of calendar 2021, subject to customary closing conditions,
including regulatory approval.
Anord Mardix serves as a trusted, end-to-end, solutions provider
to major data center customers across North America, Europe, and Asia. Customers rely on Anord Mardix for their
manufacturing and engineering expertise, technical support, and
service capabilities for high value products including switchgear,
PDUs & RPPs, databar/busbar, and power monitoring systems
amongst other product categories.
"This transaction is the culmination of a true partnership with
the Anord Mardix team that drove transformational growth for the
business. Together, with the exceptional leadership of CEO
James Peacock, we achieved our
vision of creating a leading player in the industry," said
Kevin Yamashita, Partner at Bertram
Capital. "Working closely with the Anord Mardix team, we
exceeded our growth plan through transformational acquisitions,
organic growth initiatives, and new geographic and operational
expansions."
Bertram's value creation strategy, the Bertram High 5sm, driven by the
firm's in-house IT team, Bertram
Labs, were critical drivers to the rapid growth and platform
expansion realized by Anord Mardix during Bertram's ownership.
"Bertram's experience in the data center sector, combined with a
true commitment to partnering with our team, provided the necessary
support to help us create a noted leader in the industry," said
James Peacock, CEO of Anord Mardix.
"Kevin Yamashita and his Industrial
team at Bertram provided leadership and strategic contributions
that enabled us to become a better business. We eagerly look
forward to our next phase of growth in our journey with Flex."
Bertram would like to recognize the Lincoln International team,
headed by Sean Bennis, for their
leadership on the transaction. Additionally, Harris Williams, led by Eric Logue and Hirschler, led by Andrew Lohman, served as advisors to Bertram on
the transaction.
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SOURCE Bertram Capital