Columbus, Ohio – October 12, 2026 -- Vertiv Holdings Co. has agreed to acquire microgrid specialist Utility Innovation Holdings, operating as UtilityInnovation Group (UIG), for about $1.45 billion in cash at closing, plus up to $1.15 billion in additional cash tied to EBITDA targets over 12- and 24-month periods.
Vertiv's wholly-owned subsidiary, Vertiv Corporation, signed the merger agreement. If the full earnout is paid, total consideration could reach $2.6 billion.
Vertiv prices UIG at about 13x expected 2027 EBITDA
At the $1.45 billion upfront price, the deal values UIG at roughly 13x its expected 2027 EBITDA. Vertiv expects that multiple to be significantly lower if the full earnout is paid. The company expects the acquisition to be accretive to adjusted earnings per share in the first year after completion.
Deal extends Vertiv's portfolio upstream to the grid interconnect
UIG adds microgrid controls, onsite generation and energy storage orchestration, microgrid-specific switchgear and behind-the-meter power architecture design. Vertiv says this extends its power and cooling offering from the grid interconnect to the chip, independent of any single generation technology or supplier.
The move targets power-constrained data centers, where grid limits increasingly restrict AI infrastructure deployment. Power architecture decisions are shifting earlier in site planning, according to Vertiv, when they carry the greatest consequences for downstream infrastructure.
CEO Gio Albertazzi said competitive advantage for AI data center operators increasingly depends on how fast they move from site selection to first token.
UIG brings reference designs, controls platform and US and European projects
UIG has designed and delivered microgrid systems for AI data center operators in the United States and Europe. Its designs are generation-agnostic, so architectures can be built around the technologies a site can permit, fuel and finance. The company offers pre-validated reference designs for grid-connected, bridge-to-grid and islanded sites.
Its proprietary controls platform and pre-engineered microgrid switchgear orchestrate multiple power sources in real time and coordinate them with the critical power train.
Vertiv lists the expected customer benefits as:
- Faster access to power with less dependence on utility interconnection timelines
- The ability to scale site capacity beyond what the grid alone can provide
- A single accountable relationship from grid interconnect through rack-level infrastructure
UIG operates from North Carolina, New Jersey and Dublin
Founded in 2020, UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland. Its manufacturing operations are in North Carolina and New Jersey. Founder and CEO Sidney Hinton said Vertiv's global scale and service capabilities fit what UIG has built.
Closing is expected in the fourth quarter of 2026
The transaction is subject to regulatory approvals and customary closing conditions. J.P. Morgan Securities LLC advises Vertiv, with Buchanan Ingersoll & Rooney PC as legal counsel. Morgan Stanley & Co. LLC advises UIG, with Davis Polk & Wardwell LLP as legal counsel.