Vertiv’s $1.8 Billion Acquisition of E&I Engineering Ireland

Baker McKenzie and Latham & Watkins advised Vertiv on the deal, while Simpson Thacher advised Citigroup.

Vertiv executed its acquisition of E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf, a strategic transaction significantly expanding Vertiv’s critical data infrastructure solutions offering. The deal is structured as USD 1.8 billion in upfront consideration plus the potential for up to USD 200 million in cash, based on achieving certain 2022 profit milestones.

E&I Engineering design and manufactures low voltage switchboards. The Company provides development, installations, testing, and distribution of low and high voltage switchgears and panel boards.

Vertiv Group Corporation manufactures electrical power equipment.

The Baker McKenzie team was led by Jannan Crozier (Picture), alongside Senior Associate James Heller with support from Senior Associates Tina Hartwright and Alex Gee and Associate Tiarna Meka.

Latham & Watkins LLP represented Vertiv in the transaction and the financing, with a Houston, Texas-based corporate team led by partners David Miller and Nick Dhesi. Advice was also provided on finance matters by partner Pamela Kellet; on capital markets matters by partner Trevor Lavelle; and on tax matters by partners Bryant Lee and Jim Cole.

The Simpson Thacher team included Patrick Ryan, Ismael Duran and Andrea Valdes (Banking & Credit); David Azarkh, John O’Connell, Evan Zuckerman and Ignacio Perez (Capital Markets); Stephen Wiseman (M&A); Soogy Lee (Collateral); Tim Gallagher (Real Estate); Michael Mann and Adam Hersch (Tax); Genevieve Dorment (Intellectual Property); Jeanne Annarumma and Allison Sweeney (Executive Compensation and Employee Benefits) and Timothy Mulvihill (Environmental).

Involved fees earner: Jannan Crozier – Baker McKenzie; Alex Gee – Baker McKenzie; James Heller – Baker McKenzie; Tiarna Meka – Baker McKenzie; Andrea Valdes – Fried Frank Harris Shriver & Jacobson; Jim Cole – Latham & Watkins; Nick Dhesi – Latham & Watkins; Pamela Kellet – Latham & Watkins; Trevor Lavelle – Latham & Watkins; Bryant Lee – Latham & Watkins; David Miller – Latham & Watkins; Tina Hartwright – Ropes & Gray; Jeanne Annarumma – Simpson Thacher & Bartlett; David Azarkh – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Ismael Duran – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Adam Hersch – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Michael Mann – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; John O’Connell – Simpson Thacher & Bartlett; Patrick Ryan – Simpson Thacher & Bartlett; Allison Sweeney – Simpson Thacher & Bartlett; Stephen Wiseman – Simpson Thacher & Bartlett; Evan Zuckerman – Simpson Thacher & Bartlett;

Law Firms: Baker McKenzie; Fried Frank Harris Shriver & Jacobson; Latham & Watkins; Ropes & Gray; Simpson Thacher & Bartlett;

Clients: Citigroup Global Markets Ltd; Vertiv Group Corporation;

Author: Federica Tiefenthaler