We are advising UtilityInnovation Group on the transaction

Davis Polk is advising Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG), on its agreement to be acquired by Vertiv Holdings Co. for approximately $1.45 billion in cash at closing, with additional consideration of up to $1.15 billion in cash based on the achievement of certain EBITDA targets. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.

Founded in 2020, UIG is headquartered in Raleigh, North Carolina, with European headquarters in Dublin, Ireland, and manufacturing operations in North Carolina and New Jersey. The company designs and delivers power systems that support real-time load and frequency balancing across behind-the-meter systems and utility-connected energy resources, helping address the power demands of AI data center workloads. Its solutions include proprietary controls software, customized microgrid switchgear and energy storage.

Vertiv brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, the company does business in more than 130 countries.

The Davis Polk corporate team includes partner Harold Birnbaum and associate Mack Weber. Partner Nathaniel L. Asker and counsel Charles Pommiès are providing antitrust and competition advice. Partners William A. Curran and Patrick E. Sigmon and associate Isaiah B. Kramer are providing tax advice. Partner Adam Kaminsky and counsel Meir Katz are providing executive compensation advice. Partner Pritesh P. Shah is providing intellectual property advice. Members of the Davis Polk team are based in the New York, Brussels and Washington DC offices.

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