Vertiv closes $1.45B UtilityInnovation Group acquisition, plus up to $1.15B EBITDA earnout

Vertiv Holdings Co

• Upfront cash of ~$1.45 billion paid at closing; additional contingent cash of up to $1.15 billion payable in two tranches tied to 12- and 24-month EBITDA targets.
• Purchase price represents ~13x expected UIG 2027 EBITDA; multiple anticipated to be significantly lower if the full earnout is paid.
• Vertiv expects the deal to be accretive to adjusted EPS in the first year; UIG becomes a wholly-owned subsidiary of Vertiv Corporation.
• UIG adds microgrid controls, onsite generation and storage orchestration, microgrid switchgear and behind-the-meter power design, extending Vertiv to the grid interconnect.
• CEO Giordano Albertazzi cites power-constrained AI data centers; J.P. Morgan advised Vertiv and Morgan Stanley advised UIG.