Vertiv Completes Acquisition of UtilityInnovation Group
Vertiv Holdings Co. (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, today announced its wholly-owned subsidiary, Vertiv Corporation, has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group ("UIG") for approximately $1.45 billion in upfront cash. The transaction includes additional contingent consideration of up to $1.15 billion in cash based on achieving certain earnings before interest, taxes, depreciation and amo Vertiv Holdings Co. (NYSE: VRT) has completed its acquisition of UtilityInnovation Group (UIG), a global leader in critical digital infrastructure. UIG's proven team and proprietary technology add microgrid controls, onsite generation orchestration, microgrid-specific switchgear and behind-the-meter power architecture to Vertiv's portfolio. The acquisition includes additional contingent consideration of up to $1.15 billion based on achieving certain earnings before interest, taxes, depreciation and amortization targets over 12- and 24-month periods. Vertiv expects the acquisition to be accretive to adjusted earnings per share in the first year following completion. The purchase price represents approximately 13x expected UIG 2027 EBITDA.
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UIG's proven team and proprietary technology add microgrid controls, onsite generation orchestration, microgrid-specific switchgear and behind-the-meter power architecture to Vertiv's portfolio Extend... [6494 symbols]
