Flex Ltd. (FLEX) has seen a push of 8.54% in the aftermarket following the update of partnership with TPG Rise Climate. However, the last trading session closed at $16.75 with an increase of 2.26%.
Partnership with TPG Rise Climate – Worth it?
On 2nd February 2022, FLEX announced that PG Rise Climate, TPG’s focused climate investing strategy, has agreed to buy $500 million of convertible preferred shares in Nextracker. Moreover, TPG Rise Climate’s strategic relationship and investment will help Nextracker maintain its business status in solar tracking and management software. TPG’s knowledge and wide network in renewable energy make TPG an excellent partner for Nextracker’s long-term development.
Furthermore, by formulating and delivering best-in-class product quality, technology, value, and flexibility, Nextracker has positioned itself to be a leader in the solar tracking industry. As solar installations proliferate in the United States and around the world, Nextracker is well-positioned to be solar developers’ and EPCs’ long-term monitoring provider of choice. Last but not the least, the company forwards to the profit maximization from combined resources, expertise, and skills.
Appointment of Patrick J. Ward – Latest News by FLEX
FLEX announced the appointment of Patrick J. Ward as a member of the Board of Directors on 27th January 2022. With an outstanding 30-year career as Chief Financial Officer, Mr. Ward resigned from Cummins Inc. and joined FLEX. He is here to serve with his amazing skills and capabilities. Pat Ward has a track record of success in the financial and executive realms. The company is sure that he will be a tremendous addition to the Board, therefore the company welcomes him warmly.
Acquisition of Anord Mardix Completed – What’s happening?
On 1st December 2022, FLEX announced that it has finalized the merger of Anord Mardix. This transaction will help Flex’s Industrial business to strengthen, which will add to Flex’s portfolio of power networks and extend its offerings in the quickly evolving data center industry. Moreover, the company is thrilled to finalize this deal and welcome the Anord Mardix team to Flex. Lastly, this purchase accelerates Flex’s transition to higher-margin areas of business while also bolstering the capacity to provide top data center power solutions to new and existing customers throughout the world.
