Vertiv Expands Thermal Management Portfolio With Acquisition of Energy Labs

Acquisition adds offerings and capabilities for cloud, colocation
providers and commercial and industrial segment

COLUMBUS, Ohio–(BUSINESS WIRE)–#Acquisition–Vertiv, formerly Emerson Network Power, has acquired Energy Labs, a
privately owned, U.S.-based manufacturer of custom air handling systems.
The acquisition strengthens Vertiv’s leading position in the data center
thermal management space and enables expansion into commercial and
industrial segments with industry-leading cooling solutions.

Energy Labs manufactures custom air handling and modular solutions,
including direct evaporative, indirect evaporative and direct expansion
cooling technologies. These additions to the Vertiv portfolio
significantly increase Vertiv capabilities in the commercial and
industrial space, creating additional opportunities to work with
universities, hospitals, airports, office buildings and other critical
commercial segments where air handling systems are the preferred cooling
solution. Cloud and colocation providers also are driving a robust
market for these large, free-cooling air handling solutions, and this
acquisition bolsters the Vertiv portfolio for these important customers.

“This acquisition supports our growth strategy to find companies that
both align with our values and bolster our current offerings,” said
Vertiv CEO Rob Johnson. “Energy Labs is a perfect fit, with talented
people, innovative technologies and complementary expertise that will
help us continue to meet the needs of our customers, while also
expanding into adjacent markets.”

Energy Labs is headquartered in San Diego, California and has more than
900 employees in the U.S. and Mexico. The West Coast location expands
Vertiv’s footprint and increases visibility and accessibility to
customers in the western U.S.

“This is an exciting step for Energy Labs, and I look forward to working
with Vertiv to expand the impact our organizations can have together,”
said Ray Irani, president of Energy Labs. “The complementary nature of
our portfolios and capabilities make this a natural fit for everyone
involved and present a tremendous growth opportunity for the business,
especially in the commercial and industrial space.”

“This is the first acquisition under the Vertiv banner, and it is
exactly the kind of additive move we feel can accelerate the company’s
growth,” said Jacob Kotzubei, partner at Platinum Equity, which is the
parent company for Vertiv. “We are excited for this addition to the
Vertiv family and for the opportunities it presents to provide new and
existing customers with an even more comprehensive product set.”

Greif & Co., an independent, Los Angeles-based investment bank
specializing in mergers and acquisitions for entrepreneurially owned
companies, represented Energy Labs in this transaction.

About Vertiv

Vertiv designs, builds and services critical infrastructure that enables
vital applications for data centers, communication networks and
commercial and industrial facilities. Formerly Emerson Network Power,
Vertiv supports today’s growing mobile and cloud computing markets with
a portfolio of power, thermal and infrastructure management solutions
including the Chloride®, Liebert®, NetSure™ and Trellis™
brands. Sales in fiscal 2016 were $4.4 billion. For more information,
visit VertivCo.com.

Contacts

For Vertiv
Mark Berry, +614-383-1605
[email protected]