21:54 | 03/01/2017 Companies
(VEN) - Veteran technology executive Rob Johnson to lead new standalone company following sale to Platinum Equity.
The business now formerly known as Emerson Network Power recently announced the appointment of Rob Johnson as CEO and officially commenced a campaign to rebrand the standalone company as Vertiv.
Vertiv is a global provider of mission-critical infrastructure technologies for vital applications in data centers, communication networks, and commercial and industrial environments. The company, which is headquartered in Columbus, Ohio (USA), has more than 20,000 employees and more than 25 manufacturing and assembly facilities worldwide.
Platinum Equity acquired the business today from Emerson in a transaction valued in excess of $4 billion. Emerson also retained a minority interest in the company.
Mr. Johnson, most recently an operating partner at Kleiner Perkins Caufield & Byers, spent 10 years at American Power Conversion (APC), a leader in data center infrastructure. He was President and CEO of APC when the company was sold to Schneider Electric for $6.1 billion in 2007. While at APC he also served as General Manager of the company’s Availability Enhancement Group.
“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 Mr. 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.”
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, including its industry-leading flagship brands 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.
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.”