The page you're viewing is for Spanish (EMEA) region.

The page you're viewing is for Spanish (EMEA) region.

Vertiv, una empresa del portfolio de Platinum Equity, cotizará en la Bolsa de Nueva York gracias a una combinación empresarial con GS Acquisition Holdings

diciembre 10, 2019

Crea un proveedor de infraestructura crítica digital cotizado en bolsa

Columbus, Ohio, 10 de diciembre de 2019 – Vertiv Holdings LLC (“Vertiv”), una empresa del portfolio de Platinum Equity y proveedor global de infraestructura crítica digital y soluciones de continuidad, anunció hoy que se convertirá en una empresa cotizada en bolsa a través de una fusión con GS Acquisition Holdings Corp (NYSE: GSAH, GSAH.U, GSAH WS), una empresa de adquisición con propósito especial copatrocinada por una filial de The Goldman Sachs Group, Inc. y David M. Cote. El Sr. Cote, CEO de GSAH y ex Presidente Ejecutivo del Consejo y CEO de Honeywell, trabajará como Presidente Ejecutivo de Vertiv. El equipo de dirección actual de Vertiv continuará siendo liderado por Rob Johnson, CEO con 30 años de experiencia en la industria. Se espera que la transacción se cierre durante el primer trimestre de 2020 y, a partir de ese momento, las acciones de Vertiv se venderán bajo el índice de cotización NYSE: VRT.

“Platinum Equity, Rob Johnson y su equipo han hecho un gran trabajo durante los últimos años posicionando a Vertiv para el éxito a largo plazo. La empresa es exactamente el activo que buscábamos, con una posición excelente en una buena industria, productos diferenciados tecnológicamente, un sólido potencial de crecimiento orgánico e inorgánico y oportunidades para mejoras sostenidas a lo largo del tiempo. En conjunto, estoy encantado con las perspectivas a corto y a largo plazo de Vertiv y la oportunidad que esto representa para los accionistas”, afirmó el Sr. Cote.

Tom Gores, Presidente y CEO de Platinum Equity, señaló: “Estoy orgulloso del trabajo que nuestro equipo ha realizado en Vertiv para posicionarla donde se encuentra en la actualidad, y estoy muy satisfecho con la nueva colaboración con nuestro amigo David y nuestros socios desde hace mucho tiempo en Goldman Sachs. Rob Johnson y el equipo de dirección han hecho un gran trabajo para preparar a la empresa para su próxima fase de crecimiento”.

“Esta transacción nos permite acelerar nuestra estrategia de crecimiento e innovación y ampliar nuestras oportunidades a medida que seguimos centrándonos en las necesidades en constante evolución de nuestros clientes”, afirmó Rob Johnson, CEO de Vertiv. “Nuestra colaboración con David, que cuenta con una trayectoria probada impulsando mejoras operativas y creando valor para los accionistas, mejorará aún más nuestra trayectoria ya que buscamos capitalizar nuestra sólida base en una industria en crecimiento”.

Jacob Kotzubei, Partner de Platinum Equity, que se convertirá en miembro del consejo de la nueva empresa cotizada, comentó: “Nos complace colaborar con Goldman Sachs y Dave Cote en la próxima etapa de Vertiv y participar en el éxito futuro de la empresa como un importante accionista. También esperamos con interés trabajar con Dave, Rob y el equipo de dirección de Vertiv para acelerar el liderazgo de servicios y productos de la compañía en la industria”.

Con operaciones en más de 130 países, Vertiv es líder mundial en el suministro de hardware, software, análisis y servicios en los que los clientes confían para conseguir que sus aplicaciones vitales funcionen de forma continua, se ejecuten de manera óptima y crezcan con sus necesidades empresariales. El portfolio de gestión eléctrica, térmica y de TI de la empresa junto con soluciones y servicios de infraestructura de TI y refrigeración que se extienden desde la nube hasta el extremo de la red, generaron ingresos de casi 4300 millones de USD en 2018.

Key Transaction Terms

The transaction, unanimously approved by both boards of directors, is expected to close in the first quarter of 2020, subject to customary closing conditions, including regulatory approvals, and approval of GSAH’s stockholders. At closing, the public company’s name will be changed to Vertiv Holdings Co. Upon closing, Vertiv will have an anticipated pro forma enterprise value of approximately $5.3 billion, or 8.9x the company’s estimated 2020 pro forma Adjusted EBITDA of approximately $595 million.

Upon completion, it is expected that, subject to various purchase price adjustments and any redemptions by the public stockholders of GSAH, Platinum Equity will hold approximately 38% of Vertiv Holdings Co and the sponsor (including Mr. Cote and affiliates of The Goldman Sachs Group, Inc.) will own approximately 5% of Vertiv Holdings Co. In addition to the approximately $705 million of cash held in GSAH’s trust account, additional investors (including affiliates of Mr. Cote and affiliates of The Goldman Sachs Group, Inc.) have committed to participate in the transaction through a $1.239 billion private placement.

After giving effect to any redemptions by the public stockholders of GSAH, the balance of the approximately $705 million in cash held in GSAH’s trust account, together with the $1.239 billion in private placement proceeds, will be used to pay $415 million cash consideration (subject to certain adjustments) to Vertiv stockholders, pay transaction expenses and reduce Vertiv’s existing indebtedness to up to 3.6x 2019 estimated pro forma Adjusted EBITDA. The remainder of the consideration payable to the stockholders of Vertiv will consist of shares of GSAH common stock.

The transaction will be effected pursuant to the Agreement and Plan of Merger (“the Merger Agreement”), entered into by and among GSAH, Vertiv Holdings, LLC, VPE Holdings, LLC (Vertiv Holdings, LLC’s parent), and the other parties thereto.

Goldman Sachs & Co. LLC acted as lead placement agent and exclusive financial advisor to GSAH. J.P. Morgan Securities LLC acted as financial advisor to Vertiv. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to GSAH. Morgan, Lewis & Bockius, LLP and Gibson, Dunn & Crutcher LLP acted as joint legal advisors to Platinum Equity and Vertiv.

Conference Call Information

Investors may listen to a presentation regarding the proposed transaction on Tuesday, December 10, 2019 starting at 10:30 a.m. ET. The call can be accessed by dialing 1-877-883-0383 (domestic toll-free number) or 1-412-902-6506 (international) and providing the conference ID: 8567556, or asking for the GSAH-Vertiv transaction announcement call. The live webcast of the investor call as well as related presentation materials will be available at https://www.gsacquisition.com/.

A replay of the teleconference and webcast will also be available for approximately 30 days at https://www.gsacquisition.com/.

About Vertiv

Vertiv brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications 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 Columbus, Ohio, Vertiv employs around 20,000 people and does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com.

About GSAH

GS Acquisition Holdings Corp (NYSE: GSAH) is a special purpose acquisition company formed for the purpose of effecting merger, stock purchase or similar business combination with one or more businesses. The company is sponsored by an affiliate of The Goldman Sachs Group, Inc. and David M. Cote. In June 2018, GSAH completed its initial public offering, raising $690 million from investors.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 24 years Platinum Equity has completed more than 250 acquisitions.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the estimated future financial performance, financial position and financial impacts of the potential transaction, the satisfaction of closing conditions to the potential transaction and the private placement, the level of redemptions by GSAH’s public stockholders and purchase price adjustments in connection with the potential transaction, the timing of the completion of the potential transaction, the anticipated pro forma enterprise value and Adjusted EBITDA of the combined company following the potential transaction, anticipated ownership percentages of the combined company’s stockholders following the potential transaction, and the business strategy, plans and objectives of management for future operations, including as they relate to the potential transaction. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “pro forma,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When GSAH discusses its strategies or plans, including as they relate to the potential transaction, it is making projections, forecasts and forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, GSAH’s management.

These forward-looking statements involve significant risk and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside GSAH’s and Vertiv’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to:(1) GSAH’s ability to complete the potential transaction or, if GSAH does not complete the potential transaction, any other initial business combination; (2) satisfaction or waiver (if applicable) of the conditions to the potential transaction, including with respect to the approval of the stockholders of GSAH; (3) the ability to maintain the listing of the combined company’s securities on the New York Stock Exchange; (4) the inability to complete the private placement; (5) the risk that the proposed transaction disrupts current plans and operations of GSAH or Vertiv as a result of the announcement and consummation of the transaction described herein; (6) the ability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (7) costs related to the proposed transaction; (8) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the potential transaction; (9) the possibility that GSAH and Vertiv may be adversely affected by other economic, business, and/or competitive factors; (10) the outcome of any legal proceedings that may be instituted against GSAH, Vertiv or any of their respective directors or officers, following the announcement of the potential transaction; (11) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments; and (12) other risks and uncertainties indicated from time to time in the preliminary proxy statement of GSAH, including those under “Risk Factors” therein, and other documents filed or to be filed with the Securities and Exchange Commission (“SEC”) by GSAH.

Forward-looking statements included in this release speak only as of the date of this release. Neither GSAH nor Vertiv undertakes any obligation to update its forward-looking statements to reflect events or circumstances after the date of this release. Additional risks and uncertainties are identified and discussed in GSAH’s reports filed with the SEC and available at the SEC’s website at https://www.sec.gov.

Non-GAAP Financial Measures

Pro forma Adjusted EBITDA is a non-GAAP financial measure that is not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and may be different from non-GAAP financial measures used by other companies. This non-GAAP financial measure should not be construed as an alternative to net income as an indicator of operating performance or as an alternative to cash flow provided by operating activities as a measure of liquidity (each as determined in accordance with GAAP). See investor presentation for a description of this non-GAAP financial measure and a reconciliation of such non-GAAP financial measure to the most comparable GAAP amount.

Additional Information about the Transaction and Where to Find It

GSAH intends to file with the SEC a preliminary proxy statement in connection with the business combination and will mail a definitive proxy statement and other relevant documents to its stockholders. The definitive proxy statement will contain important information about the business combination and the other matters to be voted upon at a special meeting of the stockholders to be held to approve the business combination and other matters, and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. GSAH’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement, the amendments thereto, and the definitive proxy statement in connection with GSAH’s solicitation of proxies for such special meeting, as these materials will contain important information about GSAH, Vertiv and the business combination. The definitive proxy statement will be mailed to the stockholders of GSAH as of a record date to be established for voting on the business combination and the other matters to be voted upon at the special meeting. GSAH’s stockholders will also be able to obtain copies of the proxy statement, without charge, once available, at the SEC’s website at https://www.sec.gov, or by directing a request to: IR-GSacquisition@gs.com.

Participants in the Solicitation

GSAH and its directors and officers may be deemed participants in the solicitation of proxies of GSAH stockholders in connection with the business combination. GSAH’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and officers of GSAH in GSAH’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, which was filed with the SEC on March 13, 2019.

Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to GSAH’s stockholders in connection with the business combination and other matters to be voted upon at the special meeting will be set forth in the proxy statement for the business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the business combination will be included in the proxy statement that GSAH intends to file with the SEC.

For investor inquiries, please contact:

GS Acquisition Holdings Corp
Please email: IR-GSacquisition@gs.com

For media inquiries, please contact:

Sara Steindorf
FleishmanHillard for Vertiv
T +1 314-982-1725
E sara.steindorf@fleishman.com

Patrick Scanlan
Goldman Sachs & Co. LLC
T +1 212-902-5400

Dan Whelan
Platinum Equity
T 310-282-9202
E dwhelan@platinumequity.com

Artículos relacionados

Temas de artículos

Architects of Continuity™

Idioma y ubicación