Columbus – October 28, 2026 -- Vertiv Holdings Co. (NYSE: VRT) has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG), for approximately $1.45 billion in upfront cash, adding microgrid and behind-the-meter power capabilities for data centers constrained by grid access.
Earnout of up to $1.15 billion ties additional payout to 12- and 24-month EBITDA targets
The transaction carries contingent cash consideration of up to $1.15 billion, payable if UIG meets EBITDA targets over 12- and 24-month periods. Including the full earnout, total cash consideration could reach $2.6 billion.
The upfront price equals approximately 13x expected UIG 2027 EBITDA. Vertiv expects that multiple to fall significantly if the full earnout is paid. The company expects the deal to be accretive to adjusted earnings per share in the first year after completion.
UIG extends Vertiv's power and cooling portfolio upstream to the grid interconnect
UIG designs microgrid solutions, advanced power controls and behind-the-meter power architecture for data centers. The acquisition gives Vertiv microgrid controls, onsite generation and energy storage orchestration, and microgrid-specific switchgear.
Founded in 2020, UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland, and manufacturing in North Carolina and New Jersey. Its systems support real-time load and frequency balancing across behind-the-meter systems and utility-connected energy resources. Its offering includes proprietary controls software, customized microgrid switchgear and energy storage.
Vertiv targets faster time to power for AI data center operators
Vertiv CEO Giordano Albertazzi said access to power "has become a critical competitive advantage" for AI data center operators. He said the combination creates a coordinated solution from behind-the-meter generation to chip, without tying customers to a single generation technology or supplier.
Vertiv expects the combined offering to:
- accelerate access to power and ease or eliminate dependence on utility interconnection timelines;
- let behind-the-meter site capacity scale beyond what the grid alone can provide; and
- provide a single accountable relationship from grid interconnect through rack-level infrastructure.
UIG Founder and CEO Sidney Hinton said that, as part of Vertiv, UIG can bring its microgrid and behind-the-meter expertise to a broader set of customers globally.
J.P. Morgan Securities LLC advised Vertiv financially, with Buchanan Ingersoll & Rooney PC as legal counsel. Morgan Stanley & Co. LLC advised UIG financially, with Davis Polk & Wardwell LLP as legal counsel.