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

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.