Vertiv Holdings Co (VRT)

Vertiv is a global designer, manufacturer and servicer of critical digital infrastructure supporting data centers, communication networks, and commercial and industrial environments, serving customers in industries such as cloud services, financial services, healthcare, transportation, manufacturing, energy, education, government, social media and retail. Tracing its roots to 1946 and formally established through the 1965 founding of Liebert Corporation (the first maker of computer room air conditioning), the company grew through decades of acquisitions under Emerson Electric’s Network Power division—including Avansys, Marconi’s outside plant/power systems, Knurr AG, and Avocent—before being spun off in 2016 and becoming publicly traded (NYSE: VRT) in 2020 via a business combination with GS Acquisition Holdings Corp. The company’s portfolio spans AC and DC power management, switchgear and busbar products, thermal management, integrated rack systems, modular solutions, and monitoring/control software, complemented by a global services network offering lifecycle management, predictive analytics, preventative maintenance, engineering/consulting, and remote monitoring; key brands include Vertiv, Liebert, NetSure, Geist, E&I, Powerbar, and Avocent. Vertiv operates through three geographic reportable segments—Americas, Asia Pacific, and Europe, Middle East & Africa—which generated $5,691.5 million in revenue for 2022 (48% Americas, 28% Asia Pacific, 24% EMEA), up from $4,998.1 million in 2021, with backlog growing to $4,754.4 million at year-end 2022 amid strong demand and supply chain-driven lead-time extensions.

Its primary end markets include data centers (hyperscale/cloud, colocation, enterprise, and edge), communication networks (wireline, wireless, and broadband), and commercial and industrial applications (transportation, manufacturing, oil and gas), with customers such as Microsoft Azure, Amazon Web Services, Google Cloud, Digital Realty, Equinix, Goldman Sachs, J.P. Morgan, and Walmart. The company reaches customers through roughly 3,000 direct salespeople as well as independent sales representatives, channel partners, distributors, IT resellers, and original equipment manufacturers, supported by more than 200 global service centers and over 3,500 field service engineers. Vertiv operates significant manufacturing facilities across the Americas, Asia Pacific, and EMEA, supported by regional engineering and configuration centers, and invested $282.0 million in R&D in 2022 to drive continuous product innovation, leveraging the Vertiv Operating System to enhance operational efficiency and quality.

In November 2021, the company acquired E&I Engineering Ireland Limited and its affiliate Powerbar Gulf LLC for $1,770.4 million, expanding its power infrastructure and services portfolio, particularly for hyperscale cloud and data center customers. As of December 31, 2022, Vertiv employed approximately 27,000 people globally, held approximately 2,700 registered patents and 1,500 registered trademarks, and maintains environmental, health and safety compliance programs addressing global regulatory requirements related to hazardous substances, emissions, and product content.