Vertiv to acquire E&I Engineering Group
Vertiv, a global provider of critical digital infrastructure and continuity solutions, has acquired E&I Engineering Ireland for approximately $1.8 billion.
The deal consists of $1.17 billion in cash and approximately $630 million of Vertiv common stock. The transaction is expected to close in the fourth quarter of 2021.
Founded in 1986 by Philip O’Doherty, E&I is a provider of electrical switchgear and power distribution systems, pioneering unique in-house integrated power solution designs and technology tailored to individual client project needs.
“The acquisition of E&I represents a key milestone in Vertiv’s strategy, completing our portfolio of in-building power train offerings for data centers and vital commercial and industrial markets,” said Rob Johnson, Vertiv chief executive officer (pictured). “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. We look forward to adding E&I’s highly skilled team members to the Vertiv family. Our companies share a strong culture of engineering excellence and innovation and a passion for serving our customers with differentiated products and service.”
“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, E&I. “We are excited to join the Vertiv team and to continue to grow our business through Vertiv’s global reach, strong channel presence and great customer positioning in critical digital infrastructures.”
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