Latham Advises Vertiv in US$1.8 Billion Acquisition of E&I Engineering Group and Related Committed Financing

Strategic transaction significantly expands Vertiv’s digital infrastructure offering.

September 08, 2021

Vertiv Holdings Co (Vertiv), a global provider of critical digital infrastructure and continuity solutions, has announced that through its subsidiaries, it has entered into a definitive agreement to acquire E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC.  As noted in the company news release, the agreement is for approximately US$1.8 billion in total upfront equity and cash consideration plus the potential for up to US$200 million in cash, structured as an earnout based on achieving certain 2022 profit milestones. Vertiv intends to finance the transaction with cash on hand and new debt financing, supported by committed financing.  

Latham & Watkins LLP represents Vertiv in the transaction and the financing, with a Houston, Texas-based corporate team led by partners David Miller and Nick Dhesi. Advice was also provided on finance matters by partner Pamela Kellet; on capital markets matters by partner Trevor Lavelle; and on tax matters by partners Bryant Lee and Jim Cole. 

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.