Vertiv Sells ASCO® to Schneider Electric


Sale enables greater focus on core business

COLUMBUS, Ohio, July 27, 2017 (GLOBE NEWSWIRE) -- Vertiv, formerly Emerson Network Power, today announced plans to sell its ASCO® business as it continues to sharpen its focus on the digital critical infrastructure space. The $1.25 billion sale to Schneider Electric allows Vertiv to apply additional resources toward business and technological advancements in its core data center, telecommunications and commercial and industrial markets.

As Vertiv has repositioned itself after being sold to Platinum Equity in November 2016, it became clear that ASCO's strengths in the automatic transfer switch arena fell outside the new organization's more focused strategy, said Vertiv CEO Rob Johnson.

"This sale is a significant step forward in our evolution as the premier provider of digital critical infrastructure solutions," Johnson said. "This is consistent with our strategy of focusing on our customers and aligning the strengths of our organization -  deep domain knowledge in IT and facilities applications, global scale and service coverage  - to better meet their needs."

Platinum Equity Partner Jacob Kotzubei praised Vertiv's progress.

"Thanks to strong leadership and the commitment of Vertiv employees around the world, the company is performing exceptionally well, and the transformation of the business is right on track," said Mr. Kotzubei. "The sale of ASCO will further support those efforts and help Vertiv continue focusing on its core business. Given the amount of cash proceeds expected to be generated from the sale, we will evaluate a number of capital structure alternatives that would be beneficial to all stakeholders."

The sale price of $1.25 billion reflects a multiple of 11.7x adjusted EBITDA for CY2016. The sale is subject to customary regulatory approvals and is expected to close by Q4 2017.

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 ASCO®, Chloride®, Liebert®, NetSure(TM) and Trellis(TM) brands. Sales in fiscal 2016 were $4.4 billion. For more information, visit

Mark Berry
T +614 383 1605

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vertiv via Globenewswire




Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

Nasdaq Welcomes Dropbox, Inc. (Nasdaq: DBX) to The Nasdaq Stock Market23.3.2018 19:52Pressmeddelande

NEW YORK, March 23, 2018 (GLOBE NEWSWIRE) -- Dropbox, Inc. (Nasdaq:DBX), a leading global collaboration platform, visited the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market. Founded in 2007, Dropbox serves more than 500 million registered users across 180 countries. Over the past decade, Dropbox has pioneered the worldwide adoption of file sync and share software and has expanded its product capabilities to help users do their best work. Today, 80% of its 11 million paying customers use Dropbox for work. "Today we're taking an important step in our journey. I'm so grateful to all of our customers and our incredible team for getting us here," said Drew Houston, Co-Founder and Chief Executive Officer. "Nasdaq has always championed innovation and entrepreneurship, and we're thrilled to partner with them as we become a public company." "For more than a decade, Dropbox has transformed how people around the world access

Barings Alternative Investments Expands Aviation Investment Platform Through Partnership with Genesis Aircraft Services23.3.2018 15:00Pressmeddelande

CHARLOTTE, N.C., March 23, 2018 (GLOBE NEWSWIRE) -- Barings Alternative Investments, part of Barings LLC, one of the world's leading financial services firms, announced today the expansion of its aircraft leasing platform on behalf of the firm's institutional fund clients through Genesis Aircraft Services Limited. To facilitate new aircraft acquisitions on behalf of Barings' clients, Genesis will increase existing capabilities to now include all commercial, technical, portfolio and legal management functions required of a full-service premier owner and lessor of commercial aircraft. As part of its increased capabilities, Karl Griffin will join Genesis as Chief Commercial & Investment Officer and will also be appointed to the Genesis Board of Directors effective May 2018; Anna Reimers will join Genesis as Chief Legal Officer; and John McMahon will be appointed to Genesis' Board as an independent director. Griffin is currently the Chief Operating Officer at DAE Capital, an aircraft leasi

Agrisolutions Acquires Trinity23.3.2018 12:00Pressmeddelande

HAMILTON, Ontario, March 23, 2018 (GLOBE NEWSWIRE) -- Venanpri Group's Agrisolutions division, which services the global agricultural marketplace with its Ingersoll and Bellota brands, announced today the acquisition of Trinity Logistics Corporation ("Trinity"). Based in the U.S., Trinity provides supply-chain solutions relating to fasteners and other components to leading global OEMs that produce mission critical machinery for the agricultural and construction end markets. The terms of the transaction were not disclosed. Headquartered in Davenport, Iowa, Trinity has established ten strategically located service facilities throughout the United States. Trinity specializes in the supply of standard and custom components through vendor managed inventory programs and other arrangements tailored to customer needs. Trinity utilizes its industry leading technology to improve the flow of products, services and information across the supply chain resulting in excellence in the operations of it

BIMobject AB: BIMobject releases toolkit to help digitalise the construction industry23.3.2018 10:57Pressmeddelande

BIMobject releases a toolkit for easy, seamless integration of BIM-softwares with the corporation's cloud-based platform, which hosts digital building products. This gives building product manufacturers more marketing channels and easier access to the platform's user base. BIMobject's new Software Development Kit (SDK) is a quick, efficient way for third party-developers to start using the BIMobject platform. It allows for BIMobject's market-leading platform for digital building products easily to be integrated in different BIM-programmes, such as apps. The design, user experience, and features can be defined entirely by the developer. The SDK is made available as an open source-code for free download and is connected to the web interface upon application. The code is freestanding, making it independent of updates. This in turn makes the SDK future-proof, easy to apply, and less vulnerable, with reduced loading time of the integrated digital content. For more information, please contac

BIMobject AB: BIMobject släpper startkit som hjälper byggbranschen att digitaliseras23.3.2018 10:57Pressmeddelande

BIMobject släpper ett startkit som gör det enkelt att skapa sömlös integration av BIM-programvaror med bolagets molnbaserade plattform BIMobject Cloud för digitala byggprodukter. Produkttillverkare ges på så vis fler marknadsföringskanaler och smidigare tillgång till plattformens användarbas. BIMobjects nya Software Development Kit (SDK) gör det enkelt för tredjepartsutvecklare att snabbt börja använda bolagets webbgränssnitt. Innehållet som tillhandahålls på BIMobjects marknadsledande plattform för digitala byggprodukter kan på så vis enkelt integreras i olika BIM-program, exempelvis i form av appar. Design, användarupplevelse och funktioner kan bestämmas helt av utvecklaren. Startkitet tillhandahålls som öppen källkod ("open-source") för gratis nedladdning och kopplas till webbgränssnittet efter ansökan. Koden i startkitet är fristående och därför oberoende av uppdateringar. Detta gör startkitet framtidssäkert, lättapplicerat, mindre sårbart och kortar dessutom ned laddningstider av

Comodo CA Sees 35 Percent Year-Over-Year Increase in EV Certificates22.3.2018 15:47Pressmeddelande

EV SSL will be a topic of discussion at the Comodo CA booth during RSA 2018 CLIFTON, N.J., March 22, 2018 (GLOBE NEWSWIRE) -- Comodo CA, a worldwide leader in digital identity solutions, will address evolving cyberthreats and the increasing importance Extended Validation (EV) TLS/SSL certificates play in securing websites and inspiring consumer trust at the RSA Conference 2018, San Francisco, April 16 - 20. According to the Feb 2018 Netcraft report, Comodo CA has seen a 35 percent year-over-year increase of EV certificate units* making it one of the fastest growing providers of high assurance certificates. The volume of EV certificates globally also saw a record year in 2017 as more and more businesses adopt EV as standard practice for their websites. The demand for stronger, more secure EV certificates comes in the wake of increased phishing websites using Domain Validated (DV) certificates. Phishing websites imitate legitimate websites to steal customers' funds and identities. Phishi

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum