Flex Ltd.

Flex Ltd.

Flex Ltd.

Overview
Date Founded

1969

Headquarters

2 Changi South Lane,Singapore, Central Singapore 486123

Type of Company

Public

Employees (Worldwide)

200K

Industries

Other Manufacturing
Other Business & Consulting Services
Holding Companies
Appliances & Electronics
Industrial Machinery & Manufacturing
Internet Software & Services
Engineering, Construction & Architecture
Electrical Products

Company Description

At Flextronics, impossible is where breakthrough begins. As a socially-responsible, global leader in design, manufacturing, distribution and aftermarket services, Flextronics is unique in its ability to provide end-to-end solutions through its innovative and proprietary systems — all to enhance customer competitiveness and success. Working across four business groups and several business units, Flextronics is able to unleash the full potential of the world’s most valuable brands and new ventures. What Flextronics creates is value. By increasing speed to market and driving competitive positioning for customers, Flextronics in essence solves customers’ most challenging problems better, faster and more cost effectively than any other company. Flextronics is able to manage big data in a way that allows for trending in market environments that are in flux, allowing the Company to provide solutions for customers, often before a challenge is ever realized. Flextronics is unique in the depth, breadth and scope of the Company. With an unmatched global presence, customers are supported with unprecedented speed in product ramp-up, delivery, and the ability to manage volume regardless of complexity or product mix. Leveraging state-of-the-art LEAN practices, Six Sigma, key investments in infrastructure and FlexQ, a propriety quality program that is beyond leading edge according to customers, Flextronics is the market leader in almost every business in which it operates. Whether high mix/low volume or low mix/high volume, Flextronics can enable any customer's success. At Flextronics, there is no room for “mediocrity.” If anything, the Company exists to continually test the bounds of what can be expected in terms of designs and processes. Optimization is what Flextronics does best. People make the difference. People with passion have an even greater impact. The Flextronics team spans 30 countries and four continents, and is over 200,000 people strong. Each member of the team is dedicated to enabling customer success. That is achieved through intense collaboration, passionate customer focus, thoughtful and disciplined execution, a tenacious commitment to continuous improvement and a relentless drive to win. Culture is the most important sustainable, competitive advantage of any company. The Flextronics culture is built on commitment — to customers, employees, the communities in which it operates and the environment. Flextronics is a global leader in non-profit/for-profit partnership, providing assistance in the places around the world that need it most. The Flextronics Foundation provides assistance in the areas of natural disaster relief, health and wellness initiatives and educational opportunities. Culture drives every aspect of the Company’s success. The culture and business model work hand-in-hand to ensure simplicity, flexibility and above all — sustainability.

Contact Data
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Executives & Employees

Chief Executive Officer

Chief Financial Officer

Executive Vice President & General Counsel

Chief Technology Officer

Chief Information Officer (CIO)

Chief Accounting Officer

Chief Human Resources Officer

President, Flex Asia

President of Automotive

President-High Reliability Solutions

Board of Directors

Founder & Chief Executive Officer at Capellas Partners LLC

Chief Executive Officer at Flex Ltd.

Chief Executive Officer at Baidu Capital Co., Ltd.

Senior Advisor, Private Equity Group at The Blackstone Group, Inc.

Former Chief Executive Officer at Seagate Technology LLC

Former President at Flex Ltd.

Former Executive Vice President & Chief Financial Officer at Xerox Corporation

Former Chief Financial Officer at General Motors de Mexico S de RL de CV

Former Senior Vice President-Worldwide Operations at Amazon.com, Inc.

Professor of Management Practice at Harvard University - Harvard Business School

Paths to Flex Ltd.
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Flex Ltd.
Owners & Shareholders
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PRIMECAP invests primarily common stocks or securities with common stock characteristics, bonds and cash/cash equivalents. The firm utilizes fundamental research and bottom-up stock picking to construct portfolios. The main sources of information for research purposes include financial publications, inspections of corporate activities, research materials by others such as sell-side analysts, companies' annual reports and any related filings and press releases, meetings with executives of companies and their suppliers, competitors, customers, etc. All portfolios are built with the best ideas of each of the managers within the multi-manager investment process. PRIMECAP's investment strategy does not employ short sales or margin transactions, nor does it permit investments in derivatives or currency hedging. The firm follows an investment approach based on four key principles including commitment to fundamental research, long-term investment horizon, emphasis on individual decision-making and focus on value.

Details Hidden

Lyrical Asset Management employs a value investment approach. They believe that a portfolio of companies with low valuations relative to their long-term normalized earnings power will outperform the overall market over time. The firm's philosophy is to invest only in businesses that they believe are of high quality. Investments are limited to publicly-traded equity securities and cash equivalents. Clients may impose restrictions on investing in certain securities or types of securities. Lyrical Asset Management begins with a universe of the top 1,000 US stocks (market-cap around $3 billion), and then uses a proprietary screen to generate investment candidates. The screen estimates a fair price for each stock applying a normalized multiple to an estimate of 5-year forward normalized earnings, which is calculated by taking the historical earnings trend line of a company and consensus estimates for future earnings and statistically extrapolating forward 5 years. Each portfolio candidate/stock idea goes through a fundamental research process. This process is designed to develop an understanding of the business, including drivers of growth and profitability, competitive advantages, position and leverage with customers and suppliers, historical and potential business threats/opportunities, and management style, objectives and incentives. Attractive investment ideas are considered for inclusion in the portfolio. These are companies where Lyrical believes the investment controversy to be temporary, where the underlying business has sufficient quality and durability, and where the discount in the stock price is large enough to compensate for the risks of the investment.

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Iridian Asset Management is an independently owned, value-oriented investment management firm focused on active equity investment strategies for institutional investors, including foundations and endowments, corporate and public pension funds, sub-advised and Taft Hartley funds. As of September 30, 2012, assets under management totalled $7.7 billion in U.S. mid-cap, large-cap and small-cap equity strategies. Iridian was founded in 1996 by David Cohen and Harold Levy, two seasoned investment professionals who have worked side-by-side in the investment industry for over 20 years. Our unique "private business value" approach to investing, which drives our mid-cap and large-cap strategies, has its roots in their early investment careers, which encompassed direct experience in private equity, venture capital, distressed debt and bankruptcy takeovers. In analyzing investment opportunities, our founders learned the importance of focusing on cash-related metrics and in-depth, critical assessment of a company's management — two key factors that have been fundamental in shaping a shared and distinctive investment philosophy. In December 2009, the co-portfolio management team of Jordan D. Alexander and Stephen A. Friscia, Jr. joined Iridian to manage a Small-Cap Value strategy. Jordan and Stephen have worked together since 1998 and have co-managed small cap value strategies as a team since 2000. Today, Iridian is built around a collaborative team of experienced investment professionals managing a range of traditional investment strategies for institutional investors.

Recent Transactions
Details Hidden

RIB Software SE purchases Ytwo Formative, Inc. from Flex Ltd.

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Multi-Fineline Electronix Inc., Suzhou Dongshan Precision Manufacturing Co., Ltd. purchase Multek China Ltd. from Flex Ltd.

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Olidata SpA purchases Italdata Spa from Flex Ltd.

Transaction Advisors
Accountant

Advised onFlex Ltd. purchases The DII Group, Inc.

Accountant

Advised onFlex Ltd. purchases Nortel Networks Corp. /Calgary, Campinas & Montreal Ops from Nortel Networks Corporation

Legal Advisor

Advised onFlex Ltd. purchases The DII Group, Inc.

Legal Advisor

Advised onFlex Ltd. purchases Solectron Corp.

Chair, Securities Practice Group

Advised onFlex Ltd. purchases Solectron Corp.

Legal Advisor

Advised onKohlberg Kravis Roberts & Co. LP purchases Aricent, Inc. from Flex Ltd.

Advisors & Consultants
Legal Advisor

Partner at Wilson Sonsini Goodrich & Rosati PC

Legal Advisor

Partner at Winston & Strawn LLP

Legal Advisor

Benefit Plan Administrator at TriNet HR IV LLC

Clients

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women's health, and wound care markets. The Pharmaceutical segment focuses on therapeutic areas such as immunology, infectious diseases ad vaccines, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension. The Medical Devices segment offers products used in the orthopedic, surgery, cardiovascular, diabetes care, and eye health fields. The company was founded by Robert Wood Johnson I, James Wood Johnson and Edward Mead Johnson Sr. in 1886 and is headquartered in New Brunswick, NJ.

Ford Motor Co. engages in the manufacture, distribution, and sale of automobiles. It operates through the following three segments: Automotive, Mobility, and Ford Credit. The Automotive segment engages in developing, manufacturing, marketing and servicing of Ford cars, Lincoln vehicles. The Mobility segment includes Ford Smart Mobility LLC and autonomous vehicles business. The Ford Credit segment comprises Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. The company was founded by Henry Ford on June 16, 1903 and is headquartered in Dearborn, MI.

General Motors Co. engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc. The firm operates through the following segments: GM North America, GM International, and GM Financial. It sells vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Wuling, Maven, and OnStar brands. The company was founded by William C. Durant on September 16, 1908 and is headquartered in Detroit, MI.

Key Stats and Financials As of 2019
Market Capitalization
$4.99B
Total Enterprise Value
$6.66B
Earnings Per Share
$0.18
Revenue
$26.2B
Debt TEV
0.46x
TEVNet Income
71.29x
Total Equity
$2.97B
Total Debt
$3.05B
Net Profit
$93.4M
Three Year Compounded Annual Growth Rate Of Revenue
1.7%
Five Year Compounded Annual Growth Rate Of Revenue
1.61%
Enterprise Value Sales
0.25x
EBITDAMargin
4.34%
Enterprise Value EBITDAOperating
5.85x
EBITDA
$1.14B
Investments
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Relacom Holding AB provides administrative and technology solution services. The company was founded in 2000 and is headquartered in Stockholm, Sweden.

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Savari, Inc. builds software and hardware sensor solutions for OEM automotive car manufacturers. Its sensor solutions connect cars to other old and new cars, infrastructure such as traffic lights, pedestrians and bicyclists through Vehicle-to-Everything (V2X) communication technology. The firm's solutions include: Vehicle-to-Vehicle (V2V), Vehicle-to-Infrastructure (V2I), Vehicle-to-Phone (V2P) for pedestrians and Infrastructure-to-Phone (I2P). The company was founded by Ravi Puvvala in 2008 and is headquartered in Santa Clara, CA.

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Udisense, Inc. develops baby monitors and computer application software for mobile phones and other wireless devices. Its products include nanit plus, nanit plus sleep screen, multi-stand, nanit insights, and multi-packs. The company was founded by Andrew Berman, Assaf Glazer, and Tor Ivry and is headquartered in New York, NY.

Investors
Details Hidden

Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Partners seeks to achieve superior risk-adjusted returns by investing with the strategic insight of an experienced industry participant, the operating skill of a world-class management team, and the investing capabilities of a leading private equity firm.

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Partner at Mayfield Fund LLC

Suppliers
Bel Fuse, Inc. Advertising & Marketing | JERSEY CITY, NJ

Bel Fuse, Inc. engages in the design, manufacture, and marketing of products that power, protect, and connect electronic circuits. It operates through the following geographical segments: North America, Asia, and Europe. Its products include magnetic, power transformers, modules, circuit protection, fiber optic connectors, and interconnect devices. The company was founded by Elliot Bernstein in 1949 and is headquartered in Jersey City, NJ.

Diodes Inc. Semiconductors | PLANO, TX

Diodes Incorporated (Nasdaq: DIOD), a Standard and Poor’s SmallCap 600 and Russell 3000 Index company, is a leading global manufacturer and supplier of high-quality application specific standard products within the broad discrete, logic, and analog semiconductor markets. Diodes serves the consumer electronics, computing, communications, industrial, and automotive markets. Diodes' products include diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate logic, amplifiers and comparators, Hall-effect and temperature sensors; power management devices, including LED drivers, DC-DC switching and linear voltage regulators, and voltage references along with special function devices, such as USB power switches, load switches, voltage supervisors, and motor controllers

Littelfuse, Inc. Internet Software & Services | Chicago, Illinois

Littelfuse, Inc. engages in supplying of circuit protection products for the electronics, automotive and electrical industries. The company offers electromechanical and electronic switch and control devices for commercial and specialty vehicles and sensors for automobile safety systems. It operates through the following segments: Electronics, Automotive, and Electrical. The Electronics segment includes the broadest and deepest portfolio of overvoltage and overcurrent solutions. The Automotive segment maintains a direct sales force to service all the major automotive OEMs and system suppliers domestically. The Electrical segment markets and sells its power fuses and protection relays through the manufacturer's representatives across North America. The company was founded by Edward V. Sundt in 1927 and is headquartered in Chicago, IL.

Competitors
Benchmark Electronics, Inc. Electrical Products - ANGLETON, TX

Benchmark Electronics, Inc. provides integrated electronic manufacturing services, engineering and design services, and precision machining services. The company provides services to original equipment manufacturers of industrial control equipment telecommunication equipment, computers and related products for business enterprises, medical devices, and testing and instrumentation products. Its services include comprehensive and integrated design and manufacturing services and solutions from initial product concept to volume production, including direct order fulfillment and aftermarket services. The company was founded by Cary T. Fu, Steven A. Barton and Donald E. Nigbor in 1979 and is headquartered in Angleton, TX.

Jabil, Inc. Electrical Products - St. Petersburg, FL

Jabil, Inc. engages in the provision of electronic manufacturing services and solutions. It offers electronics design, production, product management, and repair services to companies in the automotive and transportation, capital equipment, consumer lifestyles and wearable technologies, computing and storage, defense and aerospace, digital home, healthcare, industrial and energy, mobility, networking and telecommunications, packaging, point of sale, and printing industries. The firm operates through the Electronics Manufacturing Services and Diversified Manufacturing Services segments. The Electronics Manufacturing Services segment focuses around leveraging IT; supply chain design and engineering; and technologies largely centered on core electronics. The Diversified Manufacturing Services segment provides engineering solutions, with an emphasis on material sciences and technologies. The company was founded by William E. Morean and James Golden in 1966 and is headquartered in St. Petersburg, FL.

Celestica, Inc. Other Business & Consulting Services - Toronto, ON

Celestica is dedicated to building solid partnerships and providing flexible solutions to enable our customers' success. We are adaptive and agile and help customers anticipate and prepare for unexpected changes. Our talented global team is dedicated to delivering end-to-end product lifecycle solutions at the lowest total cost of ownership – enabling our customers to keep their commitments and stand out in their markets. Our expertise is in design and engineering, electronics manufacturing and supply chain management services. Our suite of solutions spans the entire product lifecycle – from design, through to delivery and after-market support. By understanding the unique complexity of each customer’s business, we develop customized solutions that drive product innovation, cost savings, supply chain efficiencies and improved time-to-market. We offer our customers an extremely efficient global network including 10 strategically located specialized centers of excellence focused on meeting our customers’ needs. This strategic network provides our customers with the flexibility they need to respond quickly to changes in end-market demand. Our customer portfolio spans the enterprise, communications, consumer, aerospace and defense, industrial, alternative energy and healthcare end-markets

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