Vertiv
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Vertiv is an American multinational provider of critical digital infrastructure and continuity solutions.
| Formerly |
|
|---|---|
| Type | Public company |
| |
| Industry | Electrical equipment |
| Founded | 2016 |
| Headquarters | Westerville, Ohio, U.S. |
Area served | Worldwide |
Key people |
|
| Products | critical power systems, uninterruptible power supply (UPS) systems, power distribution units (PDUs), thermal management, data center infrastructure management, service and site operations |
| Revenue | US$5.6 billion (2022)[1] |
| Total assets | US$7.0 billion (2022)[1] |
| Total equity | US$1.4 billion (2022)[1] |
Number of employees | 27,000[2] |
| Website | vertiv |
Headquartered in Westerville, Ohio, Vertiv has ~27,000 employees worldwide,[3] doing business in more than 130 countries, and running 23 manufacturing and assembly facilities.[4] The company has regional headquarters in: Bologna, Italy; Miami, Florida; Pasig, Manila, Philippines; Nanshan District, Shenzhen, China; and Mumbai, India.[5]
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.[6]
Through a merger with GS Acquisition Holdings, the company became publicly traded on the New York Stock Exchange (NYSE) on February 10, 2020.[7]
History edit
Liebert Corporation edit
Vertiv began as Capitol Refrigeration Industries, established in 1946 by Ralph Liebert (1918–1984) in Columbus, Ohio. Liebert Corporation was formed in 1965 as the industry's first manufacturer of computer room air conditioning (CRAC) systems, with just five associates. In 1977, Liebert launched Conditioned Power Corporation to design and manufacture power distribution, conditioning and monitoring systems for the data processing industry. Ralph Liebert's son, Larry Liebert, took over the company as president in 1980 and served in this position until 1989. In 1981, Liebert became a public company, listed on the NASDAQ under the symbol LIEB. In 1983, Liebert acquired Franklin Electric subsidiary, Programmed Power Corporation, expanding the company's power division capabilities to include the design and manufacture of uninterruptible power supplies (UPS).[8]
Emerson Network Power edit
Liebert Corporation was acquired by Emerson Electric in 1987.[9] 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. In 2007, the Energy Logic energy efficiency model was developed and initially released.[10] Avocent and Chloride were acquired in 2009 and 2010 respectively.
Vertiv edit
In 2016, following Platinum Equity's $4 billion acquisition of ENP, the company officially commenced a campaign to rebrand under the name Vertiv. Vertiv launched as a stand-alone business and announced the appointment of Rob Johnson as chief executive officer.[11][12] In 2017, Vertiv sold its ASCO power switch business to Schneider Electric for $1.25 billion.[13] The company 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).[14] In 2021, Vertiv acquired E+I Engineering, a global provider of switchgear, busway and modular power solutions power, for $1.8 billion.[15]
On January 1, 2023, Giordano Albertazzi became Vertiv's Chief Executive Officer.[16][17]
On July 1, 2023, Anand Sanghi became Vertiv's President of the Americas region.[18][19]
Current work edit
Vertiv's primary customers are businesses across three main end markets: data centers, communication networks and commercial & industrial environments. Vertiv's major customers include Alibaba, America Movil, AT&T, China Mobile, Equinix, Ericsson, Siemens, Telefonica, Tencent, Verizon and Vodafone.[20] Its principal offerings include:
- Critical infrastructure & solutions: AC and DC power management, thermal management, and integrated modular solutions.
- Integrated Rack Solutions: 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.[21]
Research and Development edit
Vertiv invests approximately 5% of sales into research and development.[22] In 2022, Vertiv spent $282 million on research and development.[23]
Partnerships edit
In April 2021, Vertiv was announced as Founding Partner and Official Data Center Equipment Provider of Columbus Crew.[24]
Acquisitions edit
| Company acquired | Country | Date | Business | Reference |
|---|---|---|---|---|
| Energy Labs | USA | January 2018 | Air Handling Systems | [25] |
| Geist | USA | February 2018 | Rack Power Distribution Units (PDUs) | [26] |
| MEMS Power Generation (MEMS) | UK | December 2018 | Temporary Power Solutions | [27] |
| E+I Engineering | Ireland | November 2021 | Electrical Switchgear & Power Distribution Systems | [28] |
Brands edit
Vertiv's brands include:
References edit
- ^ a b c "Vertiv Reports Record Fourth Quarter 2022 Net Sales, Operating Profit, Adjusted Operating Profit(1) and Price Realization; Raising Operating Profit and Adjusted Operating Profit Guidance for 2023". February 22, 2023. Retrieved March 29, 2023.
- ^ "Enabling the continuity of today's and tomorrow's vital applications" (PDF). www.vertiv.com. (PDF) from the original on May 7, 2023. Retrieved June 2, 2023.
- ^ "About Vertiv". www.vertiv.com. Retrieved June 2, 2023.
- ^ a b "Vertiv Fact Sheet" (PDF). www.vertiv.com. Retrieved April 9, 2023.
- ^ "Vertiv Global Headquarters". www.vertiv.com. Retrieved June 30, 2018.
- ^ "Emerson Wraps Up Sale of Network Power to Platinum Equity". Zacks.com.
- ^ Ghose, Carrie (February 10, 2019). "Columbus' newest public company makes its stock market debut". Business Journal. Retrieved February 18, 2019.
- ^ . December 1, 2007. Archived from the original on December 1, 2007. Retrieved October 22, 2022.
- ^ "Company News; Liebert Acquisition. The Emerson Electric Company said it had tentatively agreed to acquire the Liebert Corporation in an exchange of stock valued at about $430 million". The New York Times. December 24, 1986. Retrieved July 9, 2008.
- ^ “Emerson Network Power Introduces New Approach to Data Center Energy Optimization,” Press Release from Corporate Web Site [1] Archived 2013-04-09 at archive.today
- ^ "Emerson Network Power Rebrands as Vertiv". Plantservices.com.
- ^ "Veteran technology executive Rob Johnson to lead new standalone company following sale to Platinum Equity". www.vertiv.com.
- ^ "Vertiv Sells ASCO® to Schneider Electric". GlobeNewswire News Room (Press release). July 27, 2017. Retrieved April 9, 2023.
- ^ "About Vertiv - A History of Data Center Solutions". www.vertiv.com. Retrieved June 28, 2021.
- ^ "Vertiv Completes Acquisition of E&I Engineering Ireland Limited and its Affiliate, Powerbar Gulf LLC". www.businesswire.com. November 1, 2021. Retrieved May 26, 2022.
- ^ "Vertiv Announces New CEO". www.vertiv.com. January 3, 2023.
- ^ "Vertiv Announces CEO Succession". www.businesswire.com. October 3, 2022. Retrieved October 3, 2022.
- ^ "Anand Sanghi". www.vertiv.com. Vertiv. Retrieved July 16, 2023.
- ^ "Vertiv Names Anand Sanghi President of the Americas Region" (Press release). May 24, 2023. Retrieved July 16, 2023.
- ^ "Vertiv Fact Sheet" (PDF). www.vertiv.com. Retrieved October 26, 2023.
- ^ "United States Securities and Exchange Commission: 2020 Annual Report, Vertiv Holdings Co" (PDF). Retrieved April 9, 2023.
- ^ "Giordano Albertazzi, President for Europe, Middle East and Africa of Vertiv". The CEO Magazine. Retrieved September 30, 2021.
- ^ "Vertiv Annual Report 2022" (PDF). www.vertiv.com. Retrieved October 26, 2023.
- ^ "Vertiv Teams Up with Columbus Crew SC as Founding Partner and Supplier of Data Center Infrastructure for New Crew Stadium". www.vertiv.com. Retrieved September 30, 2021.
- ^ "Vertiv Expands Thermal Management Portfolio With Acquisition of Energy Labs". www.vertiv.com. Retrieved June 29, 2021.
- ^ "Vertiv Completes Acquisition of Geist, Expands Global Rack PDU Portfolio". www.vertiv.com. Retrieved June 29, 2021.
- ^ "Vertiv Completes Acquisition of MEMS Maintenance Business, Expands Service Capabilities in the U.K." www.vertiv.com. Retrieved June 29, 2021.
- ^ "Vertiv Completes Acquisition of E&I Engineering Ireland Limited and its Affiliate, Powerbar Gulf LLC". www.businesswire.com. November 1, 2021. Retrieved November 5, 2021.
External links edit
- Official website
- Business data for Vertiv:
- Bloomberg
- Reuters
- SEC filings
- Yahoo!