Leading global law firm Baker McKenzie has advised Vertiv on its acquisition of E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC, a strategic transaction significantly expanding Vertiv’s critical data infrastructure solutions offering. The deal is structured as USD 1.8 billion in upfront consideration plus the potential for up to USD 200 million in cash, based on achieving certain 2022 profit milestones.

Founded in 1986, E&I is a leading independent provider of electrical switchgear and power distribution systems, pioneering unique in-house integrated power solutions designs and technology tailored to individual client project needs. With annual sales of approximately USD 460 million (2021E) and 2,100 employees, E&I has a long heritage in the power distribution market and deep relationships with a blue chip customer base in more than 30 countries.

The acquisition of E&I represents a key milestone in Vertiv’s strategy, completing its portfolio of in-building power train offerings for data centers and vital Commercial & Industrial markets. The combination will significantly enhance Vertiv’s growth opportunities and will enable Vertiv to deliver differentiated solutions that manage a customer’s entire power infrastructure as an integrated system.

Jannan Crozier, Global M&A Chair at Baker McKenzie in London said: “We are delighted to have acted for Vertiv as deal counsel on its first transaction since becoming a public company. The ability of the Vertiv team to sign this significant deal is truly impressive and demonstrates that in this market a bold M&A strategy can lead to unique opportunities for strategic growth."

The London-based Baker McKenzie team was led by Global M&A Chair, Jannan Crozier, alongside Senior Associate James Heller with support from Senior Associates Tina Hartwright and Alex Gee and Associate Tiarna Meka.

The deal was signed on 8 September and is expected to close in Q4 2021.

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