Vertiv Completes Acquisition of E&I Engineering Ireland Limited and its Affiliate, Powerbar Gulf LLC
01 Novembro 2021 - 4:00PM
Business Wire
Strengthens the Company’s Portfolio of
In-Building Power Train Offerings for Data Centers and Vital
Commercial and Industrial Markets
Vertiv Holdings Co (“Vertiv”) (NYSE: VRT), a global provider of
critical digital infrastructure and continuity solutions, today
announced that Vertiv Holdings Ireland DAC, a private company
limited by shares incorporated in Ireland (the “Irish Buyer”),
Vertiv International Holding Corporation, an Ohio corporation (the
“US Buyer” and together with the Irish Buyer, the “Buyers” and each
a “Buyer”) and Vertiv successfully completed its previously
announced acquisition of E&I Engineering Ireland Limited, a
private company limited by shares incorporated in Ireland, and its
affiliate, Powerbar Gulf LLC, a foreign direct investment, a
non-freezone limited liability company incorporated and registered
in Ras Al Khaimah Economic Zone-Government of Ras Al Khaimah
(collectively “E&I”).
“We are pleased to officially welcome the E&I team to
Vertiv,” said Rob Johnson, Vertiv’s Chief Executive Officer.
“Throughout this process, we’ve quickly reaffirmed that the
impressive E&I team is rich in talent and strong in
capabilities. This combination is a real-world example of two
companies coming together to powerfully amplify their collective
ability to create value for customers, employees and
shareholders.”
Philip O’Doherty, founder of E&I, who will remain with
Vertiv said, “This is a terrific opportunity for E&I’s
customers and employees. Combining two highly complementary and
already-accomplished businesses to establish one respected,
results-oriented global organization that can provide critical
digital infrastructure and continuity solutions in countries around
the world didn’t seem possible when we founded E&I 35 years
ago. However today, by officially bringing Vertiv and E&I
together, it’s now a reality.”
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction
in which such an offer, solicitation or sale would be unlawful.
About Vertiv Holdings Co
Vertiv (NYSE: VRT) brings together hardware, software, analytics
and ongoing services to ensure its customers’ vital applications
run continuously, perform optimally and grow with their business
needs. Vertiv solves the most important challenges facing today’s
data centers, communication networks and commercial and industrial
facilities with a portfolio of power, cooling and IT infrastructure
solutions and services that extends from the cloud to the edge of
the network. Headquartered in Columbus, Ohio, USA, Vertiv employs
approximately 21,000 people and does business in more than 130
countries. For more information, and for the latest news and
content from Vertiv, visit Vertiv.com.
Category: Financial News
About the E&I Engineering
Group The E&I Engineering group is a global provider
of electrical switchgear and power distribution solutions with a
proven track record for quality, technical expertise and customer
service. With manufacturing facilities in Ireland, USA and United
Arab Emirates, E&I can design, deliver and install on a global
scale. E&I is globally recognized as a leader within the power
distribution industry. An extensive product range, specialist
technical services and a resolute focus on customer service
delivers an unparalleled service that provides peace of mind for
all customers. All of its products are manufactured in-house
ensuring that all are of the required specification and are
commercially viable and fit for purpose.
Cautionary Note Concerning
Forward-Looking Statements This news release, and other
statements that Vertiv may make in connection therewith, may
contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act. This includes, without
limitation, statements regarding the financial position, capital
structure, indebtedness, business strategy and plans and objectives
of Vertiv management for future operations, as well as statements
regarding growth, anticipated demand for our products and services
and our business prospects during 2021, as well as expected cost
savings and synergies associated with the acquisition. These
statements constitute projections, forecasts and forward-looking
statements, and are not guarantees of performance. Vertiv cautions
that forward-looking statements are subject to numerous
assumptions, risks and uncertainties, which change over time. Words
such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “strive,” “would” and
similar expressions may identify forward-looking statements. Vertiv
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
The forward-looking statements contained or incorporated by
reference in this presentation are based on current expectations
and beliefs concerning future developments and their potential
effects on Vertiv. There can be no assurance that future
developments affecting Vertiv will be those that Vertiv has
anticipated. Should one or more of these risks or uncertainties
materialize, or should any of the assumptions prove incorrect,
actual results may vary in material respects from those projected
in these forward-looking statements. Vertiv has previously
disclosed risk factors in its Securities and Exchange Commission
reports. These risk factors and those in the preliminary offering
memorandum related to the Notes, among others, could cause actual
results to differ materially from historical performance.
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version on businesswire.com: https://www.businesswire.com/news/home/20211101005870/en/
For investor inquiries, please contact: Lynne Maxeiner
Vice President, Global Treasury & Investor Relations Vertiv T:
+1 614-841-6776 E: lynne.maxeiner@vertiv.com
For media inquiries, please contact: Scott Deitz
Fleishman Hillard for Vertiv T: +1 336-908-7759 E:
scott.deitz@fleishman.com
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