Vertiv가 마이크로그리드 기업 UtilityInnovation Group을 14억 5천만 달러에 인수하는 절차를 마쳤다.
Vertiv Holdings Co. has announced that its wholly-owned subsidiary, Vertiv Corporation, has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group ("UIG"), for approximately $1.45 billion in upfront cash. The transaction includes additional contingent consideration of up to $1.15 billion in cash, based on achieving certain earnings before interest, taxes, depreciation and amortisation (EBITDA) targets over 12- and 24-month periods.
At the approximately $1.45 billion purchase price, the acquisition represents approximately 13 times expected UIG 2027 EBITDA. The EBITDA multiple is anticipated to be lower if the full earnout is paid. Vertiv expects the acquisition to be accretive to adjusted earnings per share in the first year following completion.
UIG provides microgrid solutions, power controls and behind-the-meter power architecture design for data centres. The acquisition extends Vertiv's operations upstream to the grid interconnect, adding microgrid controls, onsite generation and energy storage orchestration, and behind-the-meter power architecture. According to Vertiv, these capabilities are intended to help data centre operators secure power faster as grid constraints limit AI infrastructure deployment.
Vertiv CEO Giordano Albertazzi said the acquisition would expand the company's capabilities to include utility interconnections and onsite power sources. He said that as AI data centre operators face power constraints and pressure to accelerate deployment, access to electricity has become a competitive advantage. He added that integrating UIG would enable Vertiv to offer a power solution spanning behind-the-meter generation through to the chip, which he said would help customers secure power more quickly while retaining flexibility over generation technologies and suppliers.
**Expected effects of the combination**
The companies said the combination of Vertiv and UIG is expected to give customers flexibility in how they source, manage and scale power as data centre requirements evolve. The combination is expected to:
- Accelerate access to power, easing or eliminating dependence on utility interconnection timelines
- Enable behind-the-meter (BTM) site capacity to scale beyond what the grid alone can provide
- Provide a single accountable relationship from grid interconnect through rack-level infrastructure
UIG founder and CEO Sidney Hinton said joining Vertiv would allow the company to expand its microgrid and behind-the-meter power expertise to a wider global customer base. He added that the move would support efforts to address power constraints delaying AI data centre development and accelerate the deployment of infrastructure needed to support growing AI demand.
J.P. Morgan Securities LLC acted as financial advisor to Vertiv, and Buchanan Ingersoll & Rooney PC served as legal counsel. Morgan Stanley & Co. LLC acted as financial advisor to UIG, and Davis Polk & Wardwell LLP served as legal counsel.