Vertiv To Become Publicly Traded Through Merger With GS Acquisition
10 Décembre 2019 - 1:55PM
Dow Jones News
By Michael Dabaie
Vertiv Holdings LLC said it will become a publicly traded
company through a merger with GS Acquisition Holdings Corp
(GSAH).
GS Acquisition is a special purpose acquisition company
co-sponsored by an affiliate of Goldman Sachs Group Inc. (GS) and
David M. Cote. Vertiv provides digital infrastructure and
continuity solutions and is a Platinum Equity portfolio
company.
Mr. Cote, chief executive of GS Acquisition and former executive
chairman and CEO of Honeywell, will be executive chairman of
Vertiv. Vertiv's existing management team will continue to be led
by CEO Rob Johnson.
Vertiv said the transaction is expected to close in the first
quarter of 2020 and at close Vertiv's stock will trade under the
ticker symbol VRT.
Upon closing, Vertiv will have an anticipated pro forma
enterprise value of about $5.3 billion, the company said.
Upon completion, Platinum Equity is expected to hold about 38%
of Vertiv Holdings Co and the sponsor, including Mr. Cote and
affiliates of Goldman Sachs, will own about 5%.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
December 10, 2019 07:40 ET (12:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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