COLUMBUS – October 31, 2026 -- Vertiv Holdings Co. (NYSE: VRT) has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG), for about $1.45 billion in upfront cash. The deal also carries up to $1.15 billion in contingent cash consideration, tied to EBITDA targets over 12- and 24-month periods.
Upfront price equals 13x expected 2027 EBITDA
The upfront price represents approximately 13x expected UIG 2027 EBITDA. Vertiv expects the multiple to fall significantly 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.
UIG adds microgrid controls and behind-the-meter architecture upstream of the data center
UIG designs microgrid solutions, advanced power controls and behind-the-meter power architecture for data centers. The acquisition extends Vertiv's portfolio upstream to the grid interconnect. It adds microgrid controls, onsite generation and energy storage orchestration, microgrid-specific switchgear and behind-the-meter power design. Vertiv says the capabilities should help operators secure power faster as grid constraints limit AI infrastructure deployment.
Vertiv CEO Giordano Albertazzi said access to power has become "a critical competitive advantage" for AI data center operators. He said the combined offering runs from behind-the-meter generation to the chip, without tying customers to a single generation technology or supplier.
Vertiv targets three customer outcomes
The company expects the combination to deliver the following:
- Faster access to power, easing or eliminating dependence on utility interconnection timelines.
- Behind-the-meter site capacity that scales beyond what the grid alone can provide.
- A single accountable relationship from grid interconnect through rack-level infrastructure.
UIG Founder and CEO Sidney Hinton said the company will bring its microgrid and behind-the-meter expertise to a broader global customer base as part of Vertiv.
J.P. Morgan Securities LLC advised Vertiv, with Buchanan Ingersoll & Rooney PC as legal counsel. Morgan Stanley & Co. LLC advised UIG, with Davis Polk & Wardwell LLP as legal counsel.