Company type | Public |
---|---|
| |
Industry | Electrical equipment |
Predecessor | Capitol Refrigeration Industries (1946–1965) Liebert Corporation (1965–2000) Emerson Network Power (2000–2016) |
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$6.9 billion (2023) |
US$872 million (2023) | |
US$460 million (2023) | |
Total assets | US$8.0 billion (2023) |
Total equity | US$2.0 billion (2023) |
Owner | Barrow Hanley Global Investors (6.11%) |
Number of employees | c. 27,000 |
Website | vertiv.com |
Footnotes /references [1] [2] |
Vertiv Holdings Co., organized in Delaware and headquartered in Westerville, Ohio, designs, manufactures and services infrastructure for data centers, telecommunications networks, and commercial and industrial environments. [1] The company produces AC and DC power management products, switchgear and busbar products, thermal management products, integrated rack systems, and modular and management systems for monitoring and controlling digital infrastructure. [1]
The company operates in more than 40 countries and has 23 manufacturing and assembly facilities. [1] In 2023, the company received 56% of its revenue in the Americas; 22% from Asia–Pacific; and 22% from Europe, the Middle East and Africa. [1]
The company has regional headquarters in: Bologna, Italy; Miami, Florida; Pasig, Manila, Philippines; Nanshan District, Shenzhen, China; and Mumbai, India. [1] Vertiv has manufacturing facilities in Delaware, Ironton, Lincoln, Anderson, Pelzer, Tijuana, Mexicali, Monterrey, Reynosa, Letterkenny, Burnfoot, Campsie, Bologna, Tognana, Volyne, Rugvica, Nové Mesto nad Váhom, Ras Al Khaimah, Ambernath, Chakan, Pune, Mianyang and Jiangmen.
Vertiv invests approximately 5% of sales into research and development. [3] In 2023, Vertiv spent $303.5 million on research and development. [1] Vertiv has approximately 2,800 registered patents and 1,700 registered trademarks.
In 1946, Ralph C. Liebert (1918-1984) founded Capitol Refrigeration Industries, the precursor to Liebert Corporation. Liebert developed the first prototype precision air conditioner in his garage. In early 1965, the prototype was introduced to IBM in Chicago. Recognising the machine's potential, IBM arranged for Liebert to debut his invention at the World Computer Conference in Philadelphia. [4] [5]
In 1965, Liebert founded Liebert Corporation as the first manufacturer air conditioning units with temperature and humidity controls specific for computer room applications. [6]
In 1977, Liebert launched Conditioned Power Corporation to design and manufacture power distribution, conditioning and monitoring systems for the data processing industry. The company remained a wholly owned subsidiary until 1981, when it became a division of Liebert Corporation upon the company's initial public offering. [7]
In 1980, Liebert built a major manufacturing facility in Delaware, Ohio. [8] That year, Ralph Liebert's son, Larry L. Liebert (1945-2023) took over management of the company. [9]
In 1981, the company became a public company via an initial public offering on the NASDAQ. [6] [8]
In 1983, the company acquired Programmed Power Corporation from Franklin Electric. The acquisition expanded the capabilities of the company's power division to include the design and manufacture of uninterruptible power supplies. That year, the company also opened a plant in Cork, Ireland. [6]
In 1985, the company organized its Liebert Global Services division and introduced SiteScan, its site management system. [6]
In 1987, Liebert Corporation was acquired by Emerson Electric for $430 million in stock. [10] [11]
In 2000, Emerson formed its Network Power (ENP) business unit, consolidating critical infrastructure technologies under a single brand. In 2001, the company increased its 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, a provider of enclosure systems. In 2007, the Energy Logic energy efficiency model was developed and released. [12] Avocent and Chloride Group were acquired in 2009 and 2010 respectively. [13]
In December 2016, Platinum Equity acquired the ENP business from Emerson Electric for $4 billion, the company was renamed Vertiv, and Rob Johnson was appointed chief executive officer. [14]
In 2017, Vertiv sold ASCO Power Technologies to Schneider Electric for $1.25 billion. [15] The company made three acquisitions in 2018: Energy Labs, Geist and MEMS. Through a merger with a Goldman Sachs-led special purpose acquisition company, GS Acquisition Holdings, Vertiv became publicly traded on the New York Stock Exchange (NYSE: VRT) on February 10, 2020. [16] [17] In 2021, Vertiv acquired E+I Engineering, a global provider of switchgear, busway and modular power solutions, for $1.8 billion. [18] In December 2023, Vertiv acquired CoolTera Ltd, a provider of coolant distribution infrastructure for data center liquid cooling technology, strengthening its thermal management portfolio for high density compute cooling requirements. [19] Most recently, certain assets and centrifugal chiller technology from BiXin Energy, a manufacturer of chillers, heat pumps, heat-recovery solutions, and air-handling units, were acquired in December 2024. [20]
In 2023, Vertiv's share price increased 252%, outperforming all companies in the S&P 500 index. [21] The company's market capitalization was valued at over $44 billion as of January 2025. [22]
Date | Company acquired | Country | Business | Reference |
---|---|---|---|---|
December 2024 | BiXin Energy | China | Centrifugal Chiller Technology | [23] |
December 2023 | CoolTera Ltd | UK | Liquid Cooling Infrastructure Solutions | [24] |
November 2021 | E+I Engineering | Ireland | Electrical Switchgear & Power Distribution Systems | [25] |
December 2018 | MEMS Power Generation | UK | Temporary Power Solutions | [26] |
February 2018 | Geist | USA | Rack Power Distribution Units (PDUs) | [27] |
January 2018 | Energy Labs | USA | Air Handling Systems | [28] |
2013 | Advanced Protection Technology | USA | Surge Protection | [29] |
2012 | Avtron Loadbank | USA | Load Banks & Testing Systems | [30] |
2010 | Chloride Group | UK | Industrial Power | [31] |
2009 | Avocent | USA | IT Management | [32] |
2008 | Aperture | USA | Data Center Infrastructure Management | [33] |
2007 | Stratos | USA | Radio Frequency & Optical Subsystems | [34] |
2007 | Motorola Embedded Computing | USA | Enclosure Systems | [35] |
2006 | Knürr AG | Germany | Enclosure Systems | [36] |
2006 | Artesyn | USA | Embedded Power Conversion Technologies | [37] |
2005 | Cooligy | USA | Microprocessor Active Cooling Technology | [38] |
2005 | Chloride Telecom Systems | France | Telecom Power Systems | [39] |
2004 | Midwest Microwave | USA | Microwave Connectors & Components | [40] |
2004 | Marconi | USA | Outside Plant & Power Systems | [41] |
2004 | Albér | USA | Battery Monitoring | [42] |
2001 | Avansys | China | Power Conversion | [43] |
2000 | Jordan | USA | Telecommunications Equipment | [44] |
2000 | Ericsson Energy Systems | Sweden | Telecom Power Supplies & Systems | [45] |
1998 | Nortel APS | Canada | Power Supply Systems | [42] |
1998 | Hiross | Italy | Precision Environmental Control & Monitoring | [42] |
1998 | Firetrol | USA | Electric & Diesel Fire Pump Controllers | [46] |
1997 | Edco | USA | Low-Voltage Surge Protection Devices | [47] |
1996 | HVM | USA | High Voltage Maintenance Services | [46] |
1995 | eti/ERS | USA | Electrical Engineering & Testing | [48] |
1990 | Control Concepts | USA | Transient Voltage Surge Suppression (TVSS) | [49] |
1988 | ASTEC Power | USA | AC-DC & DC-DC Power Supplies | [46] |
1983 | Programmed Power Corporation | USA | Uninterruptible Power Supply (UPS) | [6] |
In April 2021, Vertiv was announced as Founding Partner and Official Data Center Equipment Provider of Columbus Crew. [50]
In May 2023, Vertiv was selected by Nvidia after securing a $5m grant from ARPA-E's COOLERCHIPS program. Their joint objective over the next three years is to address the challenge of cooling high-density compute by integrating direct liquid cooling and immersion cooling into a single system. Vertiv was selected for its expertise in heat rejection technology. [51]
In December 2023, Vertiv announced its collaboration with Intel to provide pumped two-phase (P2P) liquid cooling infrastructure for the Gaudi3 AI accelerator. [52]
In March 2024, Vertiv joined the Nvidia Partner Network (NPN) as a Solution Advisor: Consultant partner. [53]
Vertiv's competitors include Schneider Electric, Eaton, Legrand and Huawei. [54]
Vertiv's most prominent brands include: [1]
Giordano Albertazzi became Vertiv's Chief Executive Officer on January 1, 2023, [55] [56] following the departure of former CEO Rob Johnson. On July 1, 2023, Anand Sanghi was appointed President of the Americas region. [57] [58]
As of December 30, 2024, the management of Vertiv includes: [59]
As of December 30, 2024, the board of directors of Vertiv includes: [60]
As of December 30, 2023, the largest shareholders of Vertiv were: [61]
Vertiv's financial performance is reported to shareholders on an annual basis and a matter of public record.
Year | Revenue in mil. US$ | Growth rate | Net income in mil. US$ | Total assets in mil. US$ | Price per share in US$ | Employees |
---|---|---|---|---|---|---|
2018 [62] | 4,286 | — | (314) | 4,794 | — | — |
2019 [62] | 4,431 | 3.38% | (141) | 4,657 | — | 19,800 |
2020 [63] | 4,371 | (1.35)% | (327) | 5,071 | 14.18 | 20,972 |
2021 [64] | 4,998 | 14.34% | 120 | 6,940 | 23.92 | 24,000 |
2022 [65] | 5,692 | 13.89% | 77 | 7,096 | 13.38 | 27,000 |
2023 [66] | 6,863 | 20.57% | 460 | 7,999 | 26.92 | 27,000 |
Agilent Technologies, Inc. is an American global company headquartered in Santa Clara, California, that provides instruments, software, services, and consumables for laboratories. Agilent was established in 1999 as a spin-off from Hewlett-Packard. The resulting IPO of Agilent stock was the largest in the history of Silicon Valley at the time. From 1999 to 2014, the company produced optics, semiconductors, EDA software and test and measurement equipment for electronics; that division was spun off to form Keysight. Since then, the company has continued to expand into pharmaceutical, diagnostics & clinical, and academia & government (research) markets.
ABB Group is a Swedish-Swiss multinational electrical engineering corporation. Incorporated in Switzerland as ABB Ltd., and headquartered in Zurich, it is dual-listed on the SIX Swiss Exchange in Zurich and the Nasdaq Nordic exchange in Stockholm, Sweden, in addition to OTC Markets Group's pink sheets in the United States. ABB was ranked 340th in the Fortune Global 500 list of 2020 and has been a global Fortune 500 company for 24 years.
A data center is a building, a dedicated space within a building, or a group of buildings used to house computer systems and associated components, such as telecommunications and storage systems.
Invensys Limited was a multinational engineering and information technology company headquartered in London, United Kingdom. At its height, the company had offices in more than 50 countries and its products were sold in around 180 countries.
Brookfield Corporation is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$900 billion of assets under management in 2023. It focuses on direct control investments in real estate, renewable power, infrastructure, credit and private equity. The company invests in distressed securities through Oaktree Capital, which it bought in 2019. Brookfield's headquarters are in Toronto.
Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter Peterson and Stephen Schwarzman, who had previously worked together at Lehman Brothers. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the world's largest alternative investment firm.
Emerson Electric Co. is an American multinational corporation headquartered in St. Louis, Missouri. The Fortune 500 company delivers a range of engineering services, manufactures industrial automation equipment, climate control systems, and precision measurement instruments, and provides software engineering solutions for industrial, commercial, and consumer markets.
Schneider Electric SE is a French multinational corporation that specializes in digital automation and energy management.
Wärtsilä Oyj Abp, trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technologies for the energy sector, including gas, multi-fuel, liquid fuel and biofuel power plants and energy storage systems; and technologies for the marine sector, including cruise ships, ferries, fishing vessels, merchant ships, navy ships, special vessels, tugs, yachts and offshore vessels. Ship design capabilities include ferries, tugs, and vessels for the fishing, merchant, offshore and special segments. Services offerings include online services, underwater services, turbocharger services, and also services for the marine, energy, and oil and gas markets. At the end of December 2023, the company employed 17,800 workers.
Constellation Energy Corporation is an American energy company headquartered in Baltimore, Maryland. The company provides electric power, natural gas, and energy management services. It has approximately two million customers across the continental United States.
Vector Limited is a New Zealand energy company, which runs a portfolio of businesses delivering energy and communication services across Australasia and the Pacific. Its primary business is electricity distribution, along with distributing piped gas. It also has a bottled gas business, owns a fibre optic cable network, deploys electricity and gas meters, manages solar infrastructure projects and offers cybersecurity services and a data platform. It is also the parent company of HRV ventilation solutions.
Microchip Technology Incorporated is a publicly listed American semiconductor corporation that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.
ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.
Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995, headquartered in Beverly Hills, California. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia.
Avocent Corporation was an information-technology products manufacturer headquartered in Huntsville, Alabama. Avocent formed in 2000 from the merger of the world's two largest manufacturers of KVM equipment, Apex and Cybex Computer Products Corporation. As of August 2006, the company employed more than 1,800 people worldwide.
Chloride is a global company that specializes in the design, production, and maintenance of industrial uninterruptible power supply (UPS) systems to ensure a reliable power supply for critical equipment across multiple industries. Formerly listed on the London Stock Exchange and a constituent of FTSE 250 index, the company has become privately-owned since 2021.
Liebert Corporation, headquartered in Westerville, Ohio, produced electric power systems, precision cooling equipment, server racks and integrated cabinets, and related infrastructure management and services.
Digital Realty is a real estate investment trust that owns, operates and invests in carrier-neutral data centers across the world. The company offers data center, colocation and interconnection services.
Roxar AS was a provider of products and associated services for reservoir management and production optimisation in the upstream oil and gas industry. Roxar was headquartered in Stavanger, Norway and operated in 19 countries with around 900 employees. Roxar offered software for reservoir interpretation, modelling and simulation, as well as instrumentation for well planning, monitoring, metering and production optimisation. Roxar was acquired by Emerson Electric Company in April 2009.
Delta Electronics, Inc. is a Taiwanese electronics manufacturing company. Its headquarters are in Neihu, Taipei. It is known for its DC industrial and computer fans, data center rectifiers and switching power supplies. The company operates approximately 200 facilities worldwide, including manufacturing, sales, and R&D centers.