Vertiv Holdings Co. has entered into an agreement to acquire Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG). The deal, announced on September 2, 2026, involves Vertiv’s wholly-owned subsidiary, Vertiv Corporation, merging with UIG.
Under the terms of the agreement, Vertiv will pay approximately $1.45 billion in cash at closing. This initial amount is subject to customary adjustments for working capital, indebtedness, and transaction expenses. Additionally, Vertiv may pay up to $1.15 billion in cash over two tranches, contingent upon the achievement of specific EBITDA targets over 12- and 24-month periods.
The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other standard closing conditions. Vertiv plans to fund the acquisition using existing resources.
Vertiv stated that the acquisition represents approximately 13 times UIG’s expected 2027 EBITDA. The company anticipates the deal will be accretive to adjusted earnings per share in the first year following completion.
UIG specializes in microgrid solutions, advanced power controls, and behind-the-meter power architecture for data centers. Vertiv intends to use UIG’s expertise to expand its portfolio upstream to the grid interconnect and onsite power sources. This expansion is intended to help data center operators accelerate their time to power, particularly as grid constraints limit the deployment of AI infrastructure.
UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland. The company was founded in 2020 and employs proprietary controls software and pre-engineered microgrid switchgear.
