Vertiv makes $1.8bn data centre engineering acquisition
Vertiv is acquiring E&I Engineering Ireland and its affiliate Powerbar Gulf for around $1.8 billion in cash and shares.
The transaction is expected to close in the fourth quarter of 2021. E&I is a provider of electrical switchgear and power distribution systems in data centres and other sectors, pioneering unique in-house integrated power solution designs and technology tailored to individual client project needs.
With annual sales of approximately $460 million and 2,100 employees, E&I has a blue-chip customer base in more than 30 countries.
“The acquisition represents a key milestone in Vertiv’s strategy, completing our portfolio of in-building power train offerings for data centres and vital commercial and industrial markets,” said Rob Johnson, Vertiv chief executive officer.
“The combination will amplify Vertiv’s growth opportunities and profitability, while enabling Vertiv to deliver differentiated solutions that manage a customer’s entire power infrastructure as an integrated system,” said Johnson.
“This transaction brings together two highly complementary businesses and represents a great outcome for E&I’s employees and customers,” said Philip O’Doherty, founder and chief executive officer of E&I.
“We are joining the Vertiv team and will continue to grow our business through Vertiv’s global reach, strong channel presence and great customer positioning in critical digital infrastructures,” O’Doherty added.