Vertiv Agrees to Acquire UtilityInnovation Group for Up to $2.6 Billion
The Westerville-based digital infrastructure provider plans to fund the $1.45 billion upfront purchase from existing resources.
Westerville-based digital infrastructure provider Vertiv Holdings Co. announced Sept. 2, 2026, that it entered into an agreement to acquire Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group, for approximately $1.45 billion in upfront cash [source:pr-announcement]. The transaction also includes potential contingent cash earnout payments of up to $1.15 billion based on the acquired business achieving specified EBITDA targets over 12- and 24-month periods [source:pr-announcement].
Vertiv announced in a Form 8-K report filed with the U.S. Securities and Exchange Commission that its wholly owned subsidiary entered into the merger agreement on Sept. 1, 2026 [source:sec-agreement]. In the regulatory filing, the company said it expects to fund the acquisition from existing resources [source:sec-terms]. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 [source:sec-terms].
Founded in 2020, Raleigh, North Carolina-based UtilityInnovation Group develops microgrid systems, proprietary control software, and customized microgrid switchgear [source:pr-uig]. The company also maintains manufacturing operations in North Carolina and New Jersey as well as European headquarters in Dublin, Ireland [source:pr-uig].
In its Sept. 2 press release, Vertiv announced that the acquisition will extend its capabilities upstream to utility grid interconnections and onsite power sources [source:pr-strategy]. The addition of behind-the-meter architecture and microgrid controls is intended to help artificial intelligence data center operators coordinate onsite power generation and energy storage to accelerate time to power amid regional grid constraints [source:pr-strategy]. At the upfront price of $1.45 billion, Vertiv announced that the acquisition represents approximately 13 times expected 2027 EBITDA for UtilityInnovation Group [source:pr-financials]. Vertiv also projected that the transaction will be accretive to adjusted earnings per share in the first year following completion [source:pr-financials].
"For AI data center operators, competitive advantage increasingly depends on how quickly they can move from site selection to first token," said Gio Albertazzi, Vertiv chief executive officer, in the release [source:pr-ceo].
UtilityInnovation Group founder and Chief Executive Officer Sidney Hinton said in the release that the combination creates a strong strategic fit and expands the reach of UIG's microgrid controls [source:pr-hinton].
Vertiv, headquartered in Westerville, Ohio, operates in more than 130 countries [source:pr-vertiv]. The company's press release did not say whether the acquisition of UtilityInnovation Group will affect Vertiv's Central Ohio facilities or local staffing levels [source:pr-announcement].
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The sources and records behind this story, with the facts they support.
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COLUMBUS, Ohio, Sept. 2, 2026 /PRNewswire/ -- Vertiv Holdings Co. (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, today announced its wholly-owned subsidiary, Vertiv Corporation, has entered into an agreement and plan of merger to acquire Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group ("UIG"), a leader in microgrid solutions, advanced power controls and behind-the-meter power architecture design for data centers, for approximately $1.45 billion in cash at closing, with additional consideration of up to $1.15 billion in cash based on achieving certain earnings before interest, taxes, depreciation and amortization ("EBITDA") targets over 12- and 24-month periods.
COLUMBUS, Ohio, Sept. 2, 2026 /PRNewswire/ -- Vertiv Holdings Co. (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, today announced its wholly-owned subsidiary, Vertiv Corporation, has entered into an agreement and plan of merger to acquire Utility Innovation Holdings, Inc.
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Agreement and Plan of Merger, dated September 1, 2026*
Agreement and Plan of Merger, dated September 1, 2026*
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The closing of the Acquisition is subject to customary closing conditions, including, among others, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The Acquisition is expected to close in the fourth quarter of 2026. The parties to the Acquisition Agreement have made certain representations, warranties and covenants that are customary for a transaction of this nature. The Company expects to fund the Acquisition from existing resources.
The closing of the Acquisition is subject to customary closing conditions, including, among others, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The Acquisition is expected to close in the fourth quarter of 2026. The
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Founded in 2020, UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland, and manufacturing operations in North Carolina and New Jersey.
Founded in 2020, UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland, and manufacturing operations in North Carolina and New Jersey.
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Strategically, the acquisition extends Vertiv upstream to the grid interconnect, adding microgrid controls, onsite generation and energy storage orchestration, and behind-the-meter power architecture. These capabilities are expected to help data center operators secure power faster as grid constraints increasingly limit AI infrastructure deployment.
Strategically, the acquisition extends Vertiv upstream to the grid interconnect, adding microgrid controls, onsite generation and energy storage orchestration, and behind-the-meter power architecture. These capabilities are expected to help data center operators secure power faster as grid constrain
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At the approximately $1.45 billion purchase price, the acquisition represents approximately 13x expected UIG 2027 EBITDA. The EBITDA multiple is anticipated to be significantly lower if the full earnout is paid. Vertiv expects the acquisition to be accretive to adjusted earnings per share in the first year following completion.
At the approximately $1.45 billion purchase price, the acquisition represents approximately 13x expected UIG 2027 EBITDA. The EBITDA multiple is anticipated to be significantly lower if the full earnout is paid. Vertiv expects the acquisition to be accretive to adjusted earnings per share in the fir
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"For AI data center operators, competitive advantage increasingly depends on how quickly they can move from site selection to first token," said Gio Albertazzi, Chief Executive Officer, Vertiv.
"For AI data center operators, competitive advantage increasingly depends on how quickly they can move from site selection to first token," said Gio Albertazzi, Chief Executive Officer, Vertiv.
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"UIG was founded to solve increasingly complex power challenges for data center operators through flexible, technology-agnostic architectures. Vertiv's global scale, critical infrastructure portfolio and service capabilities make it a strong strategic fit for what we have built.
"UIG was founded to solve increasingly complex power challenges for data center operators through flexible, technology-agnostic architectures. Vertiv's global scale, critical infrastructure portfolio and service capabilities make it a strong strategic fit for what we have built.
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Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries.
Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries.