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Data Center Provider Vertiv to Go Public in 2020

Dec. 10, 2019
With operations in more than 130 countries and 2018 revenues of nearly $4.3 billion, Vertiv is a big player in delivering the hardware, software, analytics and ongoing services customers rely on to enable their vital applications to run continuously.

Vertiv Holdings, Columbus, OH, a Platinum Equity portfolio company and a global provider of critical digital infrastructure and continuity solutions, will become a publicly traded company in 2020 through a merger with GS Acquisition Holdings Corp. (GSAH), a special-purpose acquisition company co-sponsored by an affiliate of The Goldman Sachs Group and David Cote.

Cote, the CEO of GSAH and former executive chairman of the board and CEO of Honeywell, will serve as executive chairman of Vertiv. Vertiv’s existing management team will continue to be led by 30-year industry veteran CEO Rob Johnson. The transaction is expected to close in the first quarter of 2020 and at close Vertiv’s stock will trade under the ticker symbol NYSE: VRT.

Said Cote in the press release, “The company is exactly the asset we were looking for, with a great position in a good industry, products differentiated by technology, strong organic and inorganic growth potential, and opportunities for sustained improvements over time. Taken together, I am delighted with the near- and long-term prospects for Vertiv and the opportunity this represents for shareowners.”

The company offers a portfolio of power, thermal and IT management products along with cooling and IT infrastructure solutions and services that extend from the cloud to the edge of the network.