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  4. Flex
Flex logo
Conglomerates & Industrial

Who Owns Flex?

Flex is a professional power tool brand owned by Chervon Holdings Limited (HKEX: 2285), a Chinese power tool and outdoor equipment manufacturer headquartered in Nanjing, China. Chervon acquired Flex-Elektrowerkzeuge GmbH in 2013, integrating the German brand founded in 1922 into its global portfolio. Flex operates as a wholly-owned brand within Chervon's power tools division, alongside EGO, SKIL, and DEVON.

Parent Company

Chervon Holdings

Acquired

2013

Status

Publicly Traded

Headquarters

Steinheim an der Murr, Baden-Württemberg, Germany

Flex Timeline

1922

Flex

Founded by Hermann Ackermann, Hermann Schmitt

Founded
2013
Acquired by Chervon Holdings

Chervon Holdings acquired Flex

Acquired
premiumpremiumEuropeOfficial Website

Who Owns Flex?

  • Parent Company: Chervon Holdings
  • Ownership Type: Wholly owned
  • Acquisition Year: 2013
  • Company Type: Publicly Traded
  • Stock Ticker: HKEX: 2285
BrandParent CompanyOwnership Type
FlexChervon HoldingsWholly owned

History of Flex

  • Founded: 1922
  • Founders: Hermann Ackermann, Hermann Schmitt
  • Acquired by Chervon Holdings: 2013

Flex was founded in 1922 by Hermann Ackermann and Hermann Schmitt in Stuttgart-Bad Cannstatt, Germany. The company initially produced flexible shaft machines for industrial applications. The brand name "Flex" comes from these flexible shaft tools, which were used in metalworking and jewelry manufacturing.

In 1954, Flex invented and manufactured the world's first high-speed angle grinder, the DL 9. This tool ran at 6,000 RPM, far faster than any previous grinder. It changed metalworking and construction practices worldwide. The angle grinder became so associated with the Flex brand that "Flex" became the generic word for angle grinder in many German-speaking countries, similar to how "Hoover" became synonymous with vacuum cleaners in the United Kingdom.

Throughout the 1960s and 1970s, Flex expanded its product range beyond grinders to include polishers, sanders, and specialty tools for automotive refinishing and stone fabrication. The brand built a reputation among European professional tradespeople for durability and precision. Flex tools were specified by automotive manufacturers for factory and dealer-level surface preparation work.

The company remained under German ownership for most of its history. In 2013, Chervon Holdings acquired Flex-Elektrowerkzeuge GmbH. The purchase gave Chervon a premium European brand with over 90 years of engineering heritage. At the time, Chervon was primarily known as an ODM manufacturer for other companies' private-label tools. The Flex acquisition came first, establishing Chervon's strategy of building a portfolio of established power tool brands rather than relying solely on ODM relationships. Chervon later acquired SKIL in 2017, expanding this portfolio approach.

Under Chervon's ownership, Flex expanded its product range to include cordless tools. The Flex 24V cordless platform launched in the early 2020s, initially as a Lowe's exclusive in the United States. The platform introduced Stacked Lithium battery technology, which Flex claimed delivered more power and longer runtime than conventional lithium-ion packs.

In 2024, Flex acquired FLEX Scandinavia AB from the Ahlsell Group, expanding the brand's presence in Sweden and the broader Scandinavian market. This was the first major acquisition Flex made under Chervon's ownership.

In late 2025, Lowe's began clearing out Flex 24V cordless power tools from its stores. By early 2026, Lowe's had removed most Flex products from its website, marking the end of the brand's exclusive retail partnership in the United States. Flex tools remain available through other retailers including Amazon, Acme Tools, and Ohio Power Tool, as well as through professional dealer networks in Europe.

As of 2025, Flex continues to manufacture key products at its facility in Steinheim an der Murr, Germany. The brand has been recognized as one of Germany's most innovative companies by Capital magazine and Statista for five consecutive years. In 2025, Flex won an iF Design Award for a new generation of tools recognized as the lightest in their class, addressing the issue of heavy tool weight during extended overhead work.

About Chervon Holdings

Is Chervon Holdings publicly traded?
Yes, Chervon Holdings Limited is publicly traded on the Hong Kong Stock Exchange under the ticker symbol 2285. The company completed its initial public offering on December 30, 2021. Founder Pan Longquan and the founding shareholders maintain majority control through Chervon Global, the intermediate holding company.

Who founded Chervon Holdings?
Chervon was founded in 1994 by Pan Longquan, Zhang, and Xu Ningfeng, who started a foreign trading company called Chervon International Trading in Nanjing, China, focusing on the export of power tools. Ke Zuqian joined as a business partner and shareholder in 1996. Pan Longquan serves as Executive Director, Chairman, and CEO.

What brands does Chervon own?
Chervon owns five brands: EGO (battery powered outdoor power equipment, the world's largest single battery OPE platform), FLEX (German professional power tools, acquired 2013), SKIL and SKILSAW (consumer power tools, acquired 2017), DEVON (power tools for the Chinese domestic market), and X-TRON (industrial power tools).

What is the EGO brand?
EGO is Chervon's flagship outdoor power equipment brand, launched in 2013 with the world's first 56V lithium ion battery driven outdoor power equipment. The EGO 56V ARC Lithium platform is the world's largest single battery OPE platform with over 110 tools. EGO produces battery powered lawn mowers, string trimmers, leaf blowers, chainsaws, snow blowers, rider mowers, and pressure washers. In 2025, EGO achieved single digit revenue growth and double digit POS sales growth in North America, with several product categories ranking first in market share for lithium ion battery powered OPE products. EGO won the 2025 New York Times Wirecutter Best Lawn Mower Award and the 2025 Forbes Vetted Awards.

What is Chervon's annual revenue?
For FY2025 (ended December 31, 2025), Chervon reported revenue of US$1.628 billion, a decrease of 8.2% from US$1.774 billion in FY2024. Net profit was US$97.7 million, down 13.3% year over year. The decline was primarily due to customers adopting more prudent procurement strategies amid China US tariff tensions. The OBM business accounted for 76.7% of total revenue.

Where does Chervon manufacture its products?
Chervon operates manufacturing facilities in Nanjing, China (its primary manufacturing base with two industrial parks) and Ho Chi Minh City, Vietnam (incorporated in 2020, with capacity increased significantly in 2025). The company also completed the relocation of production from its Steinheim facility in Germany to Nanjing in 2025. The company is actively evaluating broader global capacity deployment plans to enhance supply chain flexibility.

What is the John Deere partnership?
In 2025, Chervon and John Deere jointly launched the Z370RS Electric ZTrak Mower powered by EGO 56V ARC Lithium batteries. This partnership represents a milestone in strategic product collaboration between the two companies, expanding the EGO battery ecosystem. The partnership demonstrates EGO's technology leadership and provides access to John Deere's extensive dealer network in the professional market.

  • Founded: 1994
  • Headquarters: Nanjing, China
  • Company Type: Publicly Traded
  • Stock: HKEX: 2285
  • Revenue: US$1.63 billion (FY2025)
  • Employees: Approximately 5,000+

Visit Chervon Holdings website

View full company profile for Chervon Holdings

Where Is Flex Made / Based?

  • Headquarters: Steinheim an der Murr, Baden-Württemberg, Germany
  • Manufacturing / Operations: Germany, China, Vietnam

Flex Categories & Tags

Power ToolsConstructionProfessional ToolsChervonGerman EngineeringCordless Tools

Flex Sustainability & Ethics

Flex does not hold independently verified sustainability certifications such as B Corp status, carbon-neutral certification, or fair-trade certification. The brand's sustainability activities are reported through Chervon's corporate ESG framework rather than through brand-specific reporting.

Chervon's 2025 annual report references investments in sustainable manufacturing, including energy-efficient production processes at its Nanjing and Vietnam facilities. The company has also expanded its lithium-ion battery recycling programs, though specific Flex-branded initiatives are not detailed in public disclosures.

Flex's cordless 24V platform replaces gasoline-powered tools in some applications, particularly in outdoor equipment. This shift reduces direct emissions from small engines, which are a significant source of air pollution in construction and landscaping. However, the environmental impact of lithium-ion battery production and disposal remains a concern across the power tool industry.

No independently verified cruelty-free, vegan, or organic certifications apply to Flex, as these designations are not relevant to power tool products. The brand has not faced documented greenwashing controversies or environmental violations in public records.

Awards & Recognition

Flex has received several independently verified industry awards:

  • iF Design Award 2025: Flex won for a new generation of tools recognized as the lightest in their class, addressing the issue of heavy tool weight during extended overhead work.
  • Capital and Statista "Most Innovative Companies" (5 consecutive years): Flex has been recognized as one of Germany's most innovative companies by Capital magazine and Statista for five consecutive years through 2025.
  • PTIA Innovation Awards 2025: Multiple Flex products won Power Tool Innovation Awards from the PTIA organization.
  • "No. 1 Specialist Trade Partner" (2025): Flex was recognized as the number one specialist trade partner by market research firm Intern, reflecting the brand's strength in European professional dealer channels.

These awards are issued by independent organizations and are not self-reported by the brand.

Flex Recalls & Controversies

Lowe's Retail Exit (2025-2026): In November 2025, Lowe's began offering deep discounts on Flex 24V cordless power tools, with savings of up to 50% on many items. By early 2026, Lowe's had removed most Flex products from its website, marking the end of the brand's retail partnership. Lowe's also shifted its Kobalt outdoor power tool manufacturing from Chervon to Greenworks. The loss of Lowe's as a retail partner significantly reduces Flex's visibility in the United States market. Flex tools remain available through Amazon, Acme Tools, Ohio Power Tool, and European professional dealers.

First-Generation 24V Tool Discontinuation: Flex discontinued its first-generation 24V tools, launched between 2021 and early 2023, along with original battery packs. The discontinuation was driven by the introduction of Stacked Lithium battery technology and retailer inventory refreshes. Flex extended its Limited Lifetime Warranty for 24V tools, batteries, and chargers for products purchased through December 31, 2025, provided the owner registered the product within 30 days. Unregistered products carry a standard 5-year limited warranty.

No CPSC recalls have been issued for Flex power tools as of July 2026. The brand has not faced documented environmental violations, labor disputes, or regulatory actions in public records.

Flex Ownership: Pros & Cons

Advantages

  • +Access to Chervon's lithium-ion battery platform shared with EGO
  • +Manufacturing scale through Chervon's facilities in China and Vietnam
  • +German engineering heritage maintained at Steinheim facility
  • +R&D investment from a top 10 global power tool manufacturer
  • +European dealer network strength recognized by industry awards

Considerations

  • -Loss of Lowe's as primary US retail partner limits North American market access
  • -Chervon's corporate strategy prioritizes EGO, which generates more revenue than Flex
  • -Premium pricing positions Flex above mass-market competitors with larger retail footprints
  • -Cordless platform has smaller installed user base than DeWalt or Milwaukee
  • -Brand recognition in North America remains low compared to established competitors

Frequently Asked Questions About Flex

Sources & Further Reading

  • Chervon Group Official Website -
  • Chervon Flex Brand Page -
  • Chervon Holdings Investor Relations -
  • Flex Tools Official Website -
  • ToolGuyd: Lowe's Flex Tools 2026 Update -
  • ToolGuyd: Massive Discounts on Flex and Skil Tools at Lowe's -
  • Power Tool Insider: Kobalt Outdoor Tools -
  • Engineer Fix: Which Flex Tools Have Been Discontinued -
  • Hong Kong Stock Exchange: Chervon Holdings (2285) -

Competitors to Flex

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
ErbauerErbauer
Kingfisher
United Kingdom
2010
Mass marketUnited kingdomAll Genders
RyobiRyobi
Techtronic Industries
USA
1943
Mass marketGlobalAll Genders

Learn More About Competitors

ErbauerConglomerates Industrial

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Mid-range power tool brand sold exclusively at B&Q and Screwfix stores in the United Kingdom. Private label brand owned by Kingfisher plc.

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RyobiConglomerates Industrial

Ryobi

Owned by Techtronic Industries Company Limited

World's leading DIY consumer power tool brand, owned by Techtronic Industries. Known for the 18V ONE+ battery platform with compatibility dating back to 1996.

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Competitive Analysis

Market Positioning: Flex competes with 2 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

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Ramco Cements operates independently without a large parent corporation.

Chervon Holdings Stock Information

Jobs at Chervon Holdings

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Last reviewed: July 25, 2026 · Reviewed by Who Brands Editorial Team