Irish manufacturing firm E+I Engineering has entered into a definitive sales agreement with Ohio, USA based Vertiv Holdings Co.
After almost 35 years of business, the shareholders of E+I Engineering have made the decision to form a new partnership with a much larger entity with wider global reach to take the business to the next level, facilitating continued business growth.
E+I Engineering group is a global provider of electrical switchgear and power distribution solutions with a proven track record for quality, technical expertise and customer service. With manufacturing facilities in Ireland, USA and United Arab Emirates E+I Engineering is globally recognized as a leader within the power distribution industry. With annual sales of approximately $460 million (2021E) and 2,100 employees, E+I Engineering has a long heritage in the power distribution market and deep relationships with a blue-chip customer base in more than 30 countries. E+I Engineering’s products represent a critical system of the data center power infrastructure and compete in an addressable market of about $7 billion, which is expected to grow 5% annually through 2025.
The agreement to acquire the E+I Engineering Ireland Limited has been unanimously approved by Vertiv’s Board of Directors and is expected to close in the fourth quarter of 2021, subject to customary closing conditions. Headquartered in Columbus, Ohio, USA, Vertiv employs 20,000 people and has customers in more than 130 countries around the world. Vertiv offers power, cooling and IT infrastructure solutions and services to customers in the data center, communications, and commercial and industrial markets.
“The acquisition of E+I Engineering represents a key milestone in Vertiv’s strategy, completing our portfolio of in-building power train offerings for data centres and vital Commercial & Industrial markets,” said Rob Johnson, Vertiv’s Chief Executive Officer. “
The E+I Engineering management team has made assurances that the business will continue to operate as usual with minimal disruption and management will work to ensure a seamless transition for employees. As a result of the acquisition there are new plans to recruit approximately 100 new staff across E+I Engineering’s three manufacturing locations in Ireland over the next 12 months to service an expected increase in business demand.
Together, Vertiv and E+I Engineering will serve some of the world’s leading Data Centre companies that are increasingly looking to suppliers to have a complete, vertically integrated “powertrain” capability and flexible power deployment options to support increasingly demanding power requirements.
“This transaction brings together two highly complementary businesses and represents a great outcome for E+I Engineering’s employees and customers,” said Philip O’Doherty, founder and Chief Executive Officer of E+I Engineering. “We are excited to join the Vertiv team and continue to grow our business through Vertiv’s global reach, strong channel presence and great customer positioning in critical digital infrastructures.
E+I Engineering today manufactures in North America, Europe and the Middle East. This transaction provides the opportunity to leverage Vertiv’s footprint outside of the US, particularly in Europe and Asia to rapidly expand penetration with new customers.