Emerson Network Power, a provider of power, thermal and infrastructure management solutions for mobile and cloud computing markets, has been rebranded as Vertiv.
The company also announced the appointment of Rob Johnson as CEO.
Most recently an operating partner at Kleiner Perkins Caufield & Byers, Johnson spent 10 years at American Power Conversion (APC), a data center infrastructure company. He was President and CEO of APC when the company was sold to Schneider Electric for $6.1 billion in 2007.
Headquartered in Columbus, Ohio (USA), Vertiv has more than 20,000 employees and more than 25 manufacturing and assembly facilities worldwide.
Platinum Equity acquired the business from Emerson in a transaction valued in excess of $4 billion. Emerson also retained a minority interest in the company.
Vertiv will build on the broad portfolio of product and service offerings for power, thermal and IT management capabilities it previously offered as Emerson Network Power. The portfolio includes brands such as ASCO, Chloride, Liebert, NetSure and Trellis.
Platinum Equity Partner Jacob Kotzubei said that Platinum Equity’s M&A and operational resources, and the firm’s strong relationship with Emerson, will benefit Vertiv in the short and long term.
In November 2013 Platinum Equity acquired a controlling stake in Emerson’s embedded computing and power business, which was later rebranded Artesyn Embedded Technologies.
“We will support Vertiv’s growth and product innovation every step of the way, both organically and through prospective add-on acquisitions,” said Kotzubei. “This is our second partnership with Emerson and we have had great success together.”
Commenting on the new appointment of Johnson, Bryan Kelln, partner and president of portfolio operations at Platinum Equity, said “This is a transformational opportunity for the company and we believe Rob is the right leader to grow the business as we establish a culture focused on speed, innovation and customer service.”
“It’s a fresh start for a business that already has so much going for it. I look forward to working with my new colleagues at Vertiv as we begin this transformational chapter in the company’s history,” said Johnson.
“As an independent company, Vertiv will operate with great freedom to make business strategy and investment decisions, move more quickly like a startup, and focus on innovative solutions for our customers, including those in the growing cloud computing, mobile and IoT networks,” Johnson added.
In support of its rebranding as Vertiv, the company has unveiled its new website at www.VertivCo.com and starting in January 2017, will launch an advertising campaign to introduce its new brand with the theme “Your Mission is Critical.”