FLEX LTD. acquires AGM Automotive
Snapshot
FLEX LTD. acquired AGM Automotive for approximately $213.7 million, net of cash acquired in April 2017. The transaction was structured as all cash. AGM Automotive is a High Reliability Solutions (HRS) - Automotive business.
- Acquirer
- FLEX LTD.
- Target
- AGM Automotive
- Value
- approximately $213.7 million, net of cash acquired
- Date
- April 2017
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
FLEX LTD. acquired AGM Automotive for approximately $213.7 million, net of cash acquired, a transaction completed in April 2017, structured as all cash.
AGM Automotive operates in High Reliability Solutions (HRS) - Automotive. Flex acquired AGM Automotive, expanding its capabilities in the automotive market. Purchase consideration was $213.7 million, comprising $56.4 million net tangible assets, $82.0 million purchased intangibles (solely customer relationships, amortized over ~10 years) and $75.3 million goodwill.
expanded its capabilities in the automotive market, and is included within the HRS segment.
Customer-relationship-rich automotive supplier deepening HRS scale. High Reliability Solutions (HRS) segment
No advisory firms have been disclosed for this transaction.