Wikipedia

Vertiv

Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments.

Vertiv Holdings Co.
Formerly
  • Capitol Refrigeration Industries
    (1946–1965)
  • Liebert Corporation
    (1965–2000)
  • Emerson Network Power
    (2000–2016)
  • Vertiv
    (2016–present)
Company typePublic
IndustryElectrical equipment
Founded2016; 8 years ago (2016)
HeadquartersWesterville, Ohio, U.S.
Area served
Worldwide
Key people
ProductsCritical power systems, uninterruptible power supply (UPS) systems, power distribution units (PDUs), thermal management, data center infrastructure management, service and site operations
RevenueIncrease US$6.9 billion (2023)
Increase US$872 million (2023)
Increase US$460 million (2023)
Total assetsIncrease US$8.0 billion (2023)
Total equityIncrease US$2.0 billion (2023)
Number of employees
c. 27,000
Websitevertiv.com
Footnotes / references
[1] [2]

Headquartered in Westerville, Ohio, Vertiv has ~27,000 employees worldwide,[3] doing business in more than 130 countries, and operating 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]

History

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1946–1965: Capitol Refrigeration Industries

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Vertiv began as Capitol Refrigeration Industries, established in 1946 by Ralph Liebert (1918–1984) in Columbus, Ohio. 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.[6][7]

1965–2000: Liebert Corporation

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Main article: Liebert Corporation

Liebert Corporation was formed in 1965 with just five associates to pursue this fast growing market as the industry's first manufacturer of computer room air conditioning (CRAC) systems. Two years later, in 1967, Liebert made its first international move by setting up a Canadian distributor network. In 1968, the company moved into a new facility in Worthington, Ohio. As its business continued to grow, the company broke ground once again and moved into a 150,000 square foot facility in Columbus, Ohio. In 1977, Liebert launched Conditioned Power Corporation to design and manufacture power distribution, conditioning and monitoring systems for the data processing industry.[8]

Expansion continued as Liebert broke ground for a second major manufacturing facility in Delaware, Ohio, in 1980. 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] That same year, Liebert opened its first overseas production facility in Cork, Ireland.[6] Liebert Corporation was acquired by Emerson Electric in March 1987,[9] remaining a wholly owned subsidiary of Emerson.

2000–2016: Emerson Network Power

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In 2000, Emerson formed its Network Power (ENP) business unit, consolidating 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, 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.[11]

2016–present: Vertiv

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In December 2016, Platinum Equity acquired the ENP business from Emerson Electric in a transaction valued in excess of $4 billion, completed in December 2016. The company was rebranded as Vertiv. Emerson also retained a subordinated equity piece in the company.[12] Vertiv launched as a stand-alone business and announced the appointment of Rob Johnson as chief executive officer.[13][14] In 2017, Vertiv sold its ASCO power switch business 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, the company 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]

In 2023, Vertiv's share price increased 252%, outperforming all companies in the S&P 500 index.[20] The company's market capitalization was valued at over $45 billion as of November 2024.[21]

Acquisitions

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Vertiv
Date Company acquired Country Business Reference
December 2023 CoolTera Ltd   UK Liquid Cooling Infrastructure Solutions [22]
November 2021 E+I Engineering   Ireland Electrical Switchgear & Power Distribution Systems [23]
December 2018 MEMS Power Generation   UK Temporary Power Solutions [24]
February 2018 Geist   USA Rack Power Distribution Units (PDUs) [25]
January 2018 Energy Labs   USA Air Handling Systems [26]
Emerson Network Power
Date Company acquired Country Business Reference
2013 Advanced Protection Technology   USA Surge Protection [27]
2012 Avtron Loadbank   USA Load Banks & Testing Systems [28]
2010 Chloride Group   UK Industrial Power [29]
2009 Avocent   USA IT Management [30]
2008 Aperture   USA Data Center Infrastructure Management [31]
2007 Stratos   USA Radio Frequency & Optical Subsystems [32]
2007 Motorola Embedded Computing   USA Enclosure Systems [33]
2006 Knürr AG   Germany Enclosure Systems [34]
2006 Artesyn   USA Embedded Power Conversion Technologies [35]
2005 Cooligy   USA Microprocessor Active Cooling Technology [36]
2005 Chloride Telecom Systems   France Telecom Power Systems [37]
2004 Midwest Microwave   USA Microwave Connectors & Components [38]
2004 Marconi   USA Outside Plant & Power Systems [39]
2004 Albér   USA Battery Monitoring [40]
2001 Avansys   China Power Conversion [41]
2000 Jordan   USA Telecommunications Equipment [42]
2000 Ericsson Energy Systems   Sweden Telecom Power Supplies & Systems [43]
Liebert Corporation
Date Company acquired Country Business Reference
1998 Nortel APS   Canada Power Supply Systems [40]
1998 Hiross   Italy Precision Environmental Control & Monitoring [40]
1998 Firetrol   USA Electric & Diesel Fire Pump Controllers [44]
1997 Edco   USA Low-Voltage Surge Protection Devices [45]
1996 HVM   USA High Voltage Maintenance Services [44]
1995 eti/ERS   USA Electrical Engineering & Testing [46]
1990 Control Concepts   USA Transient Voltage Surge Suppression (TVSS) [47]
1988 ASTEC Power   USA AC-DC & DC-DC Power Supplies [44]
1983 Programmed Power Corporation   USA Uninterruptible Power Supply (UPS) [8]

Current work

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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.[48] Its principal offerings include:

  • Critical infrastructure & solutions: AC and DC power management, thermal management, and integrated modular solutions.
  • Integrated rack solutions: racks, single phase UPS, rack power distribution, rack thermal systems, configurable integrated solutions, hardware and software for managing IT equipment.
  • Services & spares: preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software.[49] Vertiv has over 220 service centers and employs more than 3,500 service field engineers globally.[48]

Manufacturing facilities

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Vertiv has global manufacturing footprint, with facilities located 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.[50]

Research and development

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Vertiv invests approximately 5% of sales into research and development.[51] In 2023, Vertiv spent $303.5 million on research and development.[52] Vertiv has approximately 2,800 registered patents and 1,700 registered trademarks.[52]

Partnerships

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In April 2021, Vertiv was announced as Founding Partner and Official Data Center Equipment Provider of Columbus Crew.[53]

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.[54]

In December 2023, Vertiv announced its collaboration with Intel to provide pumped two-phase (P2P) liquid cooling infrastructure for the Gaudi3 AI accelerator.[55]

In March 2024, Vertiv joined the Nvidia Partner Network (NPN) as a Solution Advisor: Consultant partner.[56]

Competitors

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Vertiv's competitors include Schneider Electric, Eaton, Legrand and Huawei.[57]

Brands

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Vertiv's brands include:[4]

  • Albér (Battery Monitoring)
  • Avocent (IT Management)
  • Cybex (IT Management)
  • E+I Engineering Group (Electrical Switchgear, Modular Power, Energy Management)
  • Energy Labs (Commercial and Industrial Thermal)
  • Geist (Rack PDU)
  • Liebert (AC Power and Thermal)
  • Netsure (DC Power)
  • PowerBar (Busbar Trunking)

Corporate affairs

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Leadership

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Senior management

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Giordano Albertazzi became Vertiv's Chief Executive Officer on January 1, 2023,[58][59] following the departure of former CEO Rob Johnson. On July 1, 2023, Anand Sanghi was appointed President of the Americas region.[60][61]

As of October 30, 2024, the management of Vertiv includes:[62]

  • Yibin "Edward" Cui (President, Greater China)
  • Rachel Thompson (Vice President, Corporate Strategy & Planning)
  • Philip O’Doherty (Managing Director, E+I Engineering)

Board of directors

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As of October 30, 2024, the board of directors of Vertiv includes:[63]

  • David M. Cote (Executive Chairman)
  • Giordano Albertazzi (CEO)
  • Joseph DeAngelo
  • Joseph van Dokkum
  • Roger Fradin
  • Jakki Haussler
  • Jacob Kotzubei
  • Matthew Louie
  • Edward Monser
  • Steven Reinemund
  • Robin Washington

Previous CEOs

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  1. Rob Johnson (2016–2022)

Ownership

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As of December 30, 2023, the largest shareholders of Vertiv were:[64]

Finances

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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[65] 4,286 — (314) 4,794 — —
2019[65] 4,431 3.38% (141) 4,657 — 19,800
2020[66] 4,371 (1.35)% (327) 5,071 14.18 20,972
2021[67] 4,998 14.34% 120 6,940 23.92 24,000
2022[68] 5,692 13.89% 77 7,096 13.38 27,000
2023[69] 6,863 20.57% 460 7,999 26.92 27,000

References

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  1. ^ "Vertiv Reports Strong Fourth Quarter Results and Provides Full Year 2024 Outlook". February 21, 2024. Retrieved February 22, 2024.
  2. ^ "Enabling the continuity of today's and tomorrow's vital applications" (PDF). www.vertiv.com. Archived (PDF) from the original on May 7, 2023. Retrieved June 2, 2023.
  3. ^ "About Vertiv". Vertiv. Retrieved June 2, 2023.
  4. ^ a b "Vertiv Fact Sheet" (PDF). Vertiv. Retrieved April 9, 2023.
  5. ^ "Vertiv Global Headquarters". Vertiv. Retrieved June 30, 2018.
  6. ^ a b "Company will build air control equipment". The Ironton Tribune. March 28, 2000. Retrieved March 23, 2024.
  7. ^ "How did Columbus become an emerging data center market?". Columbus CEO. Retrieved March 23, 2024.
  8. ^ a b c "Liebert Corporation Power and Cooling - Company History". December 1, 2007. Archived from the original on December 1, 2007. Retrieved October 22, 2022.
  9. ^ "Company News; Liebert Acquisition". The New York Times. December 24, 1986. Retrieved March 25, 2024.
  10. ^ “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
  11. ^ “Emerson Network Power Fact Sheet” [2] Archived November 11, 2011, at the Wayback Machine
  12. ^ "Emerson Wraps Up Sale of Network Power to Platinum Equity". Zacks.com.
  13. ^ "Emerson Network Power Rebrands as Vertiv". Plantservices.com.
  14. ^ "Veteran technology executive Rob Johnson to lead new standalone company following sale to Platinum Equity". Vertiv.
  15. ^ "Vertiv Sells ASCO® to Schneider Electric". GlobeNewswire (Press release). July 27, 2017. Retrieved March 25, 2024.
  16. ^ Ghose, Carrie (February 10, 2019). "Columbus' newest public company makes its stock market debut". Columbus Business First. Retrieved February 18, 2019.
  17. ^ "About Vertiv - A History of Data Center Solutions". Vertiv. Retrieved June 28, 2021.
  18. ^ "Vertiv Completes Acquisition of E&I Engineering Ireland Limited and its Affiliate, Powerbar Gulf LLC". Business Wire. November 1, 2021. Retrieved May 26, 2022.
  19. ^ "Vertiv Acquisition of CoolTera Ltd. Boosts Liquid Cooling Portfolio". Vertiv. Retrieved February 21, 2024.
  20. ^ "Vertiv Holdings Co (NYSE:VRT) Q4 2023 Earnings Call Transcript". Yahoo! Finance. February 22, 2024. Retrieved March 23, 2024.
  21. ^ "Vertiv Holdings Market Cap 2017-2024 | VRT". www.macrotrends.net. Retrieved September 25, 2024.
  22. ^ "Vertiv Acquisition of CoolTera Ltd. Boosts Liquid Cooling Portfolio". Business Wire. December 4, 2023. Retrieved December 17, 2023.
  23. ^ "Vertiv Completes Acquisition of E&I Engineering Ireland Limited and its Affiliate, Powerbar Gulf LLC". Business Wire. November 1, 2021. Retrieved November 5, 2021.
  24. ^ "Vertiv Completes Acquisition of MEMS Maintenance Business, Expands Service Capabilities in the U.K." Vertiv. Retrieved June 29, 2021.
  25. ^ "Vertiv Completes Acquisition of Geist, Expands Global Rack PDU Portfolio". Vertiv. Retrieved June 29, 2021.
  26. ^ "Vertiv Expands Thermal Management Portfolio With Acquisition of Energy Labs". Vertiv. Retrieved June 29, 2021.
  27. ^ "Emerson Acquires Advanced Protection Technology (APT)". Mission Critical Magazine. December 17, 2013. Retrieved March 24, 2024.
  28. ^ "Emerson 2013 Annual Report" (PDF). Retrieved March 24, 2024.
  29. ^ "Emerson Completes Chloride Acquisition". Data Center Knowledge. September 3, 2010. Retrieved March 24, 2024.
  30. ^ "Emerson closes Avocent acquisition". Data Centre Dynamics. December 14, 2009. Retrieved March 24, 2024.
  31. ^ Shepard, Jeff (March 2, 2008). "Emerson Acquires Aperture To Bolster Position In Data Center Infrastructure Market". EEPower. Retrieved March 24, 2024.
  32. ^ "Emerson to buy Stratos International". Cabling Installation & Maintenance. May 15, 2007. Retrieved March 24, 2024.
  33. ^ Gutierrez, Carl. "Motorola Gives A Piece of Itself to Emerson". Forbes. Retrieved March 24, 2024.
  34. ^ "Emerson Acquires Knurr AG". ACHR News. February 27, 2006. Retrieved March 24, 2024.
  35. ^ "Emerson to Acquire Artesyn". The Wall Street Journal. Retrieved March 24, 2024.
  36. ^ Shepard, Jeff (October 24, 2005). "Emerson Announces Acquisition of Cooligy". EEPower. Retrieved March 24, 2024.
  37. ^ "London lifted by retail gains". Financial Times. July 14, 2005. Retrieved March 24, 2024.
  38. ^ "Where Are They Now?". Microwaves & RF. December 5, 2011. Retrieved March 24, 2024.
  39. ^ "Marconi to Sell a U.S. Unit to Emerson Electric". The New York Times. July 8, 2004. Retrieved March 24, 2024.
  40. ^ a b c "Emerson Electric Co. 1999 Annual Report" (PDF). Retrieved March 24, 2024.
  41. ^ Shepard, Jeff (October 21, 2001). "Emerson Purchases Huawei's Avansys Power". EEPower. Retrieved March 24, 2024.
  42. ^ Miller, James P. (December 15, 1999). "Emerson Electric Moves to Expand In Telecom Gear With Purchase". The Wall Street Journal. Retrieved March 25, 2024.
  43. ^ "Emerson Electric Buys Ericsson Energy Systems". ElectricNet. Retrieved March 24, 2024.
  44. ^ a b c "Emerson Network Power 2014 Fact Sheet" (PDF). Retrieved March 24, 2024.
  45. ^ "Emerson Network Power Surge Protection Celebrates 40th Anniversary". Thomas. April 6, 2011. Retrieved March 24, 2024.
  46. ^ "About | Electrical Reliability Services". Electrical Reliability Services. Retrieved March 24, 2024.
  47. ^ "Mergers, Acquisitions, Name Changes" (PDF). ACHR News. Retrieved March 24, 2024.
  48. ^ a b "Vertiv Fact Sheet" (PDF). Vertiv. Retrieved October 26, 2023.
  49. ^ "Vertiv Holdings Co. SEC Form 10-K" (PDF). U.S. Securities and Exchange Commission. March 1, 2021. Retrieved April 9, 2023.
  50. ^ "Unleash Your AI Evolution with Vertiv". Vertiv. Retrieved March 27, 2024.
  51. ^ "Giordano Albertazzi, President for Europe, Middle East and Africa of Vertiv". The CEO Magazine. Retrieved September 30, 2021.
  52. ^ a b "Vertiv Annual Report 2023" (PDF). Vertiv. Retrieved May 8, 2024.
  53. ^ "Vertiv Teams Up with Columbus Crew SC as Founding Partner and Supplier of Data Center Infrastructure for New Crew Stadium". Vertiv. Retrieved September 30, 2021.
  54. ^ Merritt, Rick (May 25, 2023). "Cool It: Team Tackles the Thermal Challenge Data Centers Face". Nvidia. Retrieved March 27, 2024.
  55. ^ "Vertiv Collaborates with Intel on Liquid Cooled Solution for the Intel® Gaudi®3 AI Accelerator Platform". Vertiv. Retrieved March 27, 2024.
  56. ^ "Vertiv Joins the NVIDIA Partner Network". Business Wire. March 18, 2024. Retrieved March 22, 2024.
  57. ^ "Vertiv Holdings Co SEC Form 10-K". U.S. Securities and Exchange Commission. February 27, 2023. Retrieved March 25, 2024.
  58. ^ "Vertiv Announces New CEO". Vertiv. January 3, 2023.
  59. ^ "Vertiv Announces CEO Succession". Business Wire. October 3, 2022. Retrieved October 3, 2022.
  60. ^ "Anand Sanghi". Vertiv. Retrieved July 16, 2023.
  61. ^ "Vertiv Names Anand Sanghi President of the Americas Region" (Press release). May 24, 2023. Retrieved July 16, 2023.
  62. ^ "Executives". Vertiv. Retrieved March 23, 2024.
  63. ^ "Board of Directors". investors.vertiv.com. Retrieved March 23, 2024.
  64. ^ "Vertiv Holdings Co (VRT) Stock Major Holders - Yahoo Finance". Yahoo! Finance. Retrieved March 23, 2024.
  65. ^ a b Q4 2019 News Release
  66. ^ 2020 Annual Report
  67. ^ 2021 Annual Report
  68. ^ 2022 Annual Report
  69. ^ 2023 Annual Report
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