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Matheson Advises Vertiv on its Acquisition of E&I Engineering Group

AUTHORs: Patrick Spicer co-author(s): Alan McMullan, Joanna Crowley Services: Corporate and Mergers & Acquisitions DATE: 02/11/2021

A Matheson team, led by Corporate M&A partner, Patrick Spicer, Corporate senior associate, Alan McMullan and Corporate solicitor Joanna Crowley, recently advised Vertiv, a global provider of critical digital infrastructure and continuity solutions for data centres, alongside Baker McKenzie LLP (London), on its acquisition of E&I Engineering Ireland Limited, and its affiliate, Powerbar Gulf LLC, for US$1.8 billion, with scope for additional cash consideration of up to US$200 million which is conditional upon the target business achieving certain milestones in 2022.

E&I Engineering Ireland Limited is a leading, Donegal-based, provider of electrical switchgear, busway and modular power solutions.  The company was founded in 1986 by Philip O’Doherty and since then has grown to have annual sales of approximately US$460 million, 2,100 employees and blue-chip customers in over 30 countries. 

Rob Johnson, Vertiv’s Chief Executive Officer, said: “The acquisition of E&I represents a key milestone in Vertiv’s strategy, completing our portfolio of in-building power train offerings for data centers and vital commercial and industrial markets.  The combination will amplify Vertiv’s growth opportunities and profitability, while enabling Vertiv to deliver differentiated solutions that manage a customer’s entire power infrastructure as an integrated system”

Patrick Spicer, Matheson corporate partner commented: 

We are delighted to have acted for Vertiv on this important acquisition, and to once again have the opportunity to work with Jannan Crozier and her team at Baker McKenzie.  This deal is one of the largest private M&A deals of the past year and our involvement further demonstrates the strength and depth of Matheson’s corporate M&A practice.”

With a wealth of experience across our six partner led offices worldwide and a dedicated 100 person Corporate Department, Matheson has some of the most experienced corporate lawyers in Ireland.  Excellence matters and Matheson’s Corporate Department, led by 23 partners, has unparalleled experience in complex and innovative domestic and international corporate transactions across all industry sectors.