EPC Power builds systems that move and control the enormous amounts of electricity required by AI data centers. Its equipment also connects large batteries to power grids and protects data centers when electricity supplies become unstable.
Under Goldman and Cleanhill’s ownership, EPC Power expanded its American manufacturing operations nearly tenfold. The California company now has more than 15 gigawatts of equipment operating across 62 countries and expects to generate approximately $800 million this year.
Flex is buying EPC Power because electricity has become one of the biggest challenges facing the AI industry. The deal gives Flex control of technology designed to power advanced computer chips while preventing sudden changes in demand from damaging local power grids.
The sale is expected to close before the end of 2026. Goldman and Cleanhill have not revealed what they originally paid, how much each company owns or how the $4.4 billion will be divided, meaning the full price cannot be described as Goldman’s profit.