Vertiv to replace Emerson Network Power
Emerson Network Power has commenced the process of rebranding itself as Vertiv, while also appointing a new CEO.
Platinum Equity acquired the business from Emerson in a transaction valued in excess of US$4 billion. Emerson also retained a minority interest in the company.
The new CEO, Rob Johnson, was most recently an operating partner at Kleiner Perkins Caufield & Byers. In addition, he spent 10 years at American Power Conversion (APC) and was president and CEO of APC when the company was sold to Schneider Electric in 2007.
“Rob has a unique blend of industry knowledge, operational acumen and entrepreneurial spirit,” said Bryan Kelln, partner and president of portfolio operations at Platinum Equity.
“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.”
Johnson said the transition to new ownership provides a unique opportunity for the company.
“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 start-up 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.
“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. We look forward to a seamless transition and an exciting future for Vertiv and the customers it serves.”
In support of its rebranding as Vertiv, the company has unveiled its new website at www.VertivCo.com, and starting in January 2017, it will launch an advertising campaign to introduce its new brand with the theme ‘Your Mission is Critical’. The campaign will run in major business and technology industry print and online media, such as The New York Times, The Wall Street Journal, Forbes, Fast Company, Wired, TechCrunch and IDG Tech Network.
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