Vertiv is acquiring E&I Engineering Group, maker of busway, switchgear, and modular power solutions, for $2 billion. Vertiv announced that it would pay $1.8 billion upfront, which will consist of $630 million in stock and $1.17 billion in cash. There’s also a potential of $200 million cash payment based on set 2022 profit targets. E&I Engineering Group was founded in 1986, and it has a reputation for its in-house integrated power designs. It also has annual revenue of $460 million and 2,100 employees.
CEO of Vertiv, Rob Johnson, was quoted to have said: “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.” He also added that the acquisition would help augment the Company’s profitability and growth opportunities while delivering differentiated solutions that manage customers’ power infrastructure as an integrated system.
