Flex has sold its high-mix microelectronics business unit to NEO Tech
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Flextronics International USA, Inc. (“Flex”) has sold its Valencia, California, high-mix microelectronics business unit (“Valencia”) to Natel Engineering Company, Inc. (“NEO Tech”).
Valencia is a high-mix provider of microelectronics and complete system design and manufacturing services. Valencia supports complex, high-reliability products, primarily serving the medical and aerospace and defense end markets. Valencia’s differentiated, high-value service offerings are enabled by its purposefully designed, state-of-the-art and strategically located manufacturing facility.
Jim Ackerman, Flex’s Vice President of Corporate Development, commented, “Lincoln’s unique insights into the buyer universe, drawn from multiple prior transactions in the electronics manufacturing services industry, helped identify the right partner for Valencia and achieve a favorable outcome for Flex. Lincoln’s execution expertise, industry knowledge, and process guidance proved invaluable throughout the sale process.”
Lincoln acted as the exclusive financial advisor to Flex, working closely with the corporate development team and senior management throughout the sale process. This included providing advisory expertise and managing the marketing, due diligence and negotiation phases of the transaction.
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