Vertiv

Vertiv Holdings Co is an American, Ohio-based, provider of equipment and services for data centers, with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network.

Vertiv Holdings Co
TypePublic
NYSE: VRT
IndustryElectrical equipment
Founded2016 (2016)
HeadquartersColumbus, Ohio, United States
Area served
Worldwide
Key people
Productscritical power systems, uninterruptible power supply (UPS) systems, power distribution units (PDUs), thermal management, data center infrastructure management, service and site operations
Revenue US$4.4 billion (2020)[1]
Total assets US$5 billion (2020)[2]
Number of employees
21,000[3]
Websitewww.vertiv.com

Platinum Equity acquired the Emerson Network Power business from Emerson Electric in a transaction valued in excess of $4 billion, completed in December 2016. Emerson Network Power was rebranded as Vertiv. Emerson also retained a subordinated equity piece in the company.[4]

Since 2016, Rob Johnson has been the chief executive officer of Vertiv.[5]

Headquartered in Columbus, Ohio, Vertiv has ~21,000 employees, with business in more than 130 countries, and 19 manufacturing and assembly facilities.[6] The company has regional headquarters in: Maidenhead, England, Bologna, Italy; Miami, Florida; Pasig, Manila, Philippines; Nanshan District, Shenzhen, China; and Mumbai, India.[7]

Through a merger with GS Acquisition Holdings, the company became publicly traded on the New York Stock Exchange (NYSE) on February 10, 2020.[8]

History

Vertiv began as Capitol Refrigeration Industries, established in 1946 by Ralph Liebert in Columbus, Ohio. Liebert Corporation was formed in 1965 as the industry's first manufacturer of computer room air conditioning (CRAC). In 1983, Liebert acquired Programmed Power Corporation, expanding its uninterruptible power supply (UPS) business. Emerson acquired ASCO in 1985, a provider of critical power transfer switches to high-availability power systems. Two years later, Emerson acquired Liebert Corporation. In 2000, Emerson formed its Network Power (ENP) business, integrating critical infrastructure technologies under a single brand. The following decade saw an expansion of ENP with various acquisitions. In 2001, the company increased is presence in Asia with the purchase of Avansys and formation of ENP India. ENP expanded its telecom industry solutions with the 2004 acquisition of Marconi outside plant and power system. In 2006, ENP acquired Germany-based Knürr AG, a leading provider of enclosure systems. Avocent and Chloride were acquired in 2009 and 2010 respectively.

Acquisition by Platinum Equity

In 2016, following Platinum Equity's $4 billion acquisition of ENP, the company was rebranding under the name Vertiv, and launched as a stand-alone business. Vertiv made three acquisitions in 2018, Energy Labs, Geist and MEMS. After merging with GS Acquisition Holdings in 2020, Vertiv Holdings Co became public on the New York Stock Exchange (NYSE: VRT).[9] In 2021, Vertiv acquired global power provider E&I Engineering for $1.8 billion.

Current work

Vertiv's primary customers are businesses across three main end markets: data centers, communication networks and commercial & industrial environments. Its principal offerings include:

  • Critical infrastructure & solutions: Identification of product delivery as performance obligations within the critical infrastructure & solutions offering. Such products include AC and DC power management, thermal management, and integrated modular solutions.
  • Integrated Rack Solutions: Performance obligations within integrated rack solutions include the delivery of racks, rack power, rack power distribution, rack thermal systems, configurable integrated solutions, and hardware for managing I.T. equipment.
  • Services & spares: Services include preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software.[10]

Research and Development

Vertiv is committed to outpacing its competitors and being first to market with new product developments and improvements, by investing 5% of sales into research and development.[11] In 2020, Vertiv spent $228.6 million on research and development.[10]

Partnerships

In April 2021, Vertiv was announced as Founding Partner and Official Data Center Equipment Provider of Columbus Crew.[12]

Acquisitions
Company acquired Country Date Business Reference
Energy Labs USA January 2018 Air Handling Systems [13]
Geist USA February 2018 Rack Power Distribution Units (PDUs) [14]
MEMS Power Generation (MEMS) UK December 2018 Temporary Power Solutions [15]
E&I Engineering Ireland November 2021 Electrical Switchgear & Power Distribution Systems [16]

Brands

Vertiv's brands include:

Corporate recognition

Recognitions include the following:

  • Frost & Sullivan Asia Pacific Data Center Integrated Power Infrastructure Growth Excellence Leadership Award (2017)
  • Frost & Sullivan DC Power Systems Competitive Strategy Innovation and Leadership Award (2017)
  • Frost & Sullivan Excellence in Thermal Management; EMEA UPS Product Leadership Award; Modular Data Center Customer Value Leadership Award (2017)
  • ACR News Environmental Project of the Year (Amdocs Data Center in London) (2017)
  • Electrical Review Excellence Award for Power (Noriker Power Project) (2018)
  • DCS Awards Cooling Product of the Year (2016-2018)
  • Transformative CEO Award in Innovation: Communication Infrastructure - Rob Johnson, Vertiv (2020)[18]

References
  1. "Vertiv Will Take $80 Million Sales Hit Due to Coronavirus". 9 March 2020.
  2. https://s23.q4cdn.com/959471387/files/doc_financials/2020/q4/Vertiv-Delivers-Strong-Fourth-Quarter-and-Full-Year-2020-Operating-Performance.pdf
  3. https://www.vertiv.com/49aba1/globalassets/documents/infographics/vertiv-ig-en-gl-fact_sheet_final_103563_06.pdf
  4. "Emerson Wraps Up Sale of Network Power to Platinum Equity". Zacks.com.
  5. "Emerson Network Power Rebrands as Vertiv". Plantservices.com.
  6. "An introduction to Vertiv" (PDF).
  7. "Vertiv Global Headquarters". Vertivco.com. Retrieved 30 June 2018.
  8. Ghose, Carrie (2019-02-10). "Columbus' newest public company makes its stock market debut". Business Journal. Retrieved 2019-02-18.
  9. "About Vertiv - A History of Data Center Solutions". www.vertiv.com. Retrieved 2021-06-28.
  10. "United States Securities and Exchange Commission: 2020 Annual Report, Vertiv Holdings Co" (PDF).
  11. "Giordano Albertazzi, President for Europe, Middle East and Africa of Vertiv". The CEO Magazine. Retrieved 2021-09-30.
  12. "Vertiv Teams Up with Columbus Crew SC as Founding Partner and Supplier of Data Center Infrastructure for New Crew Stadium". www.vertiv.com. Retrieved 2021-09-30.
  13. "Vertiv Expands Thermal Management Portfolio With Acquisition of Energy Labs". www.vertiv.com. Retrieved 2021-06-29.
  14. "Vertiv Completes Acquisition of Geist, Expands Global Rack PDU Portfolio". www.vertiv.com. Retrieved 2021-06-29.
  15. "Vertiv Completes Acquisition of MEMS Maintenance Business, Expands Service Capabilities in the U.K." www.vertiv.com. Retrieved 2021-06-29.
  16. "Vertiv Completes Acquisition of E&I Engineering Ireland Limited and its Affiliate, Powerbar Gulf LLC". www.businesswire.com. 2021-11-01. Retrieved 2021-11-05.
  17. "Critical and IT Infrastructure Top Brands | Vertiv". www.vertiv.com. Retrieved 2021-06-28.
  18. "An introduction to Vertiv" (PDF).
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