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Vertiv completes $1.45B purchase of UtilityInnovation Group
Read the full articleVertiv has completed its $1.45 billion cash purchase of UtilityInnovation Group, with up to $1.15 billion more tied to earnings targets. The acquisition expands microgrid controls and power architecture to accelerate data center deployment amid electrical grid constraints.
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Vertiv Completes Acquisition of UtilityInnovation Group
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Westerville-based digital infrastructure provider Vertiv Holdings Co. completed its acquisition of Raleigh, North Carolina-based Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group, on Oct. 27, 2026, according to a company announcement.
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Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries.
Westerville-based digital infrastructure provider Vertiv Holdings Co. completed its acquisition of Raleigh, North Carolina-based Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group, on Oct. 27, 2026, according to a company announcement.
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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. The company designs and delivers power systems that support real-time load and frequency balancing across behind-the-meter systems and utility-connected energy resources, helping address the power demands of AI data center workloads. Its solutions include proprietary controls software, customized microgrid switchgear and energy storage.
Westerville-based digital infrastructure provider Vertiv Holdings Co. completed its acquisition of Raleigh, North Carolina-based Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group, on Oct. 27, 2026, according to a company announcement.
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COLUMBUS, Ohio, Oct. 27, 2026 /PRNewswire/ -- Vertiv Holdings Co. (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, today announced its wholly-owned subsidiary, Vertiv Corporation, has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group ("UIG") for approximately $1.45 billion in upfront cash. The transaction includes additional contingent 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.
The transaction closed for approximately $1.45 billion in upfront cash, with up to $1.15 billion in potential cash earnout payments tied to earnings before interest, taxes, depreciation, and amortization targets over 12- and 24-month periods, Vertiv stated.
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COLUMBUS, Ohio, Oct. 27, 2026 /PRNewswire/ -- Vertiv Holdings Co. (NYSE: VRT) ("Vertiv"), a global leader in critical digital infrastructure, today announced its wholly-owned subsidiary, Vertiv Corporation, has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group ("UIG") for approximately $1.45 billion in upfront cash. The transaction includes additional contingent 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.
Founded in 2020, UtilityInnovation Group designs and delivers power systems that support real-time load and frequency balancing across behind-the-meter systems and utility-connected resources, according to Vertiv's Oct. 27 release.
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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. The company designs and delivers power systems that support real-time load and frequency balancing across behind-the-meter systems and utility-connected energy resources, helping address the power demands of AI data center workloads. Its solutions include proprietary controls software, customized microgrid switchgear and energy storage.
The business also maintains European headquarters in Dublin, Ireland, and manufacturing operations in North Carolina and New Jersey, the release said.
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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. The company designs and delivers power systems that support real-time load and frequency balancing across behind-the-meter systems and utility-connected energy resources, helping address the power demands of AI data center workloads. Its solutions include proprietary controls software, customized microgrid switchgear and energy storage.
According to Vertiv, the acquisition adds microgrid controls, behind-the-meter power architecture, and switchgear to its digital infrastructure portfolio.
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UIG's proven team and proprietary technology add microgrid controls, onsite generation orchestration, microgrid-specific switchgear and behind-the-meter power architecture to Vertiv's portfolio
The additions extend Vertiv upstream to the grid interconnect to help data centers secure power faster amid regional electrical constraints, the company announced.
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UIG is a leader in microgrid solutions, advanced power controls and behind-the-meter power architecture design for data centers. 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.
Vertiv noted that the combination will give operators greater flexibility and ease dependence on utility interconnection timelines while scaling site capacity beyond what the utility grid alone can provide.
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The Vertiv and UIG combination is expected to give customers greater flexibility in how they source, manage and scale power as data center requirements evolve by:Accelerating access to power to ease or eliminate dependence on utility interconnection timelines,Enabling Behind the Meter (BTM) site capacity to scale beyond what the grid alone can provide, andProviding a single accountable relationship from grid interconnect through rack-level infrastructure.
"As AI data center operators work to accelerate deployment in an increasingly power-constrained environment, access to power has become a critical competitive advantage," Vertiv Chief Executive Officer Giordano Albertazzi said in the closing announcement.
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"We are pleased to welcome the UIG team to Vertiv," said Vertiv CEO Giordano Albertazzi. "As AI data center operators work to accelerate deployment in an increasingly power-constrained environment, access to power has become a critical competitive advantage. With UIG now part of Vertiv, we can extend our capabilities upstream to the utility interconnect and onsite power sources, creating a coordinated solution, from behind-the-meter power generation to chip, that helps customers achieve faster time to power without tying them to a single generation technology or supplier."
Sidney Hinton, founder and chief executive officer of UtilityInnovation Group, said joining Vertiv will allow the team to expand its microgrid expertise globally to accelerate deployment of critical infrastructure.
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"UIG is excited to advance its mission to solve the power constraints that are slowing AI data center development," said Sidney Hinton, Founder and CEO of UIG. "As part of Vertiv, we will be able to bring our microgrid and behind-the-meter power expertise to a broader set of customers globally, helping accelerate deployment of the critical infrastructure needed to support the growth of AI."
At the upfront cash purchase price, the acquisition represents approximately 13 times UtilityInnovation Group's expected 2027 EBITDA and is projected to be accretive to adjusted earnings per share in the first year after completion, according to financial projections in the release.
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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.
Supporting evidence (1)
Vertiv previously announced on Sept. 2, 2026, that it had entered into an agreement to acquire UtilityInnovation Group.
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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.
https://www.sec.gov/Archives/edgar/data/1674101/000119312526379306/d472406d8k.htm
Supporting evidence (2)
According to regulatory disclosures, the upfront cash is subject to customary adjustments for working capital, indebtedness, and transaction expenses, while the potential earnout is payable in two tranches if earned.
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Pursuant to the Acquisition Agreement and upon consummation of the Merger, the stockholders (and other equity holders, including holders of vested options and holders of outstanding warrants of Target) will receive aggregate consideration of: (i) approximately $1.45 billion in upfront cash at closing, subject to customary adjustments for working capital, indebtedness and transaction expenses, plus (ii) additional potential cash consideration of up to $1.15 billion in cash, payable in 2 tranches if earned, which potential additional consideration will be calculated based on the achievement of certain earnings before interest, depreciation, and amortization (EBITDA) targets of the acquired business, as set forth in the Acquisition Agreement.
In the Form 8-K filing, Vertiv reported that it expected to fund the acquisition from existing resources.
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The Company expects to fund the Acquisition from existing resources.