Vertiv, a provider of critical digital infrastructure and continuity solutions, will become a publicly traded company through a merger with GS Acquisition Holdings Corp.
GS Acquisition Holdings Corp (GAHC) is a special purpose acquisition company co-sponsored by an affiliate of The Goldman Sachs Group and David M. Cote, CEO of GSAH and former Executive Chairman of the Board and CEO of Honeywell.
Cote will serve as Executive Chairman of Vertiv, a Platinum Equity Portfolio Company. Vertiv’s existing management team will continue to be led by 30-year industry veteran CEO Rob Johnson. The transaction is expected to close in the first quarter of 2020 and at close Vertiv’s stock will trade under the ticker symbol NYSE: VRT.
At closing, the public company’s name will be changed to Vertiv Holdings Co.
“Platinum Equity, Rob Johnson and his team have done a tremendous job over the last several years positioning Vertiv for long-term success,” said Cote.
“The Company is exactly the asset we were looking for, with a great position in a good industry, products differentiated by technology, strong organic and inorganic growth potential, and opportunities for sustained improvements over time. Taken together, I am delighted with the near- and long-term prospects for Vertiv and the opportunity this represents for shareowners.”
Tom Gores, Chairman and CEO, Platinum Equity, said, “Rob Johnson and the management team have done a tremendous job preparing the company for its next phase of growth.”
With operations in more than 130 countries, Vertiv is a global leader in delivering the hardware, software, analytics and ongoing services customers rely on to enable their vital applications to run continuously, perform optimally and grow with their business needs.