The Firm represented the initial purchasers, led by Citigroup Global Markets Inc., in connection with the debut senior secured notes offering by Vertiv Group Corporation, a wholly owned indirect subsidiary of Vertiv Holdings Co (NYSE: VRT) (“Vertiv”), in a Rule 144A/Regulation S offering of $850 million aggregate principal amount of 4.125% Senior Secured Notes due 2028, which closed on October 22, 2021. Vertiv intends to use the net proceeds from the offering, together with cash on hand, to finance the cash portion of the purchase price for Vertiv’s pending acquisition (the “Acquisition”) of E&I Engineering Ireland Limited and its affiliate, Powerbar Gulf LLC (“E&I”), and to pay fees and expenses related to the Acquisition and the offering.
Vertiv is a global provider of critical digital infrastructure and continuity solutions and brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications run continuously, perform optimally and grow with their business needs. E&I is a leading independent provider of electrical switchgear and power distribution systems, pioneering unique in-house integrated power solution designs and technology tailored to individual client project needs. With manufacturing facilities in Ireland, United States and United Arab Emirates, E&I is globally recognized as a leader within the power distribution industry.
The Simpson Thacher team includes David Azarkh, John O’Connell, Evan Zuckerman, Ignacio Perez and Alexi Thomas (Capital Markets); Patrick Ryan and Andrea Valdes (Banking & Credit); Soogy Lee and Jon Pall (Collateral); Tim Gallagher (Real Estate); Michael Mann and Adam Hersch (Tax); Genevieve Dorment (Intellectual Property); Jeanne Annarumma and Allison Sweeney (Executive Compensation and Employee Benefits); Timothy Mulvihill (Environmental); and Jennie Getsin (Blue Sky).