Los Angeles private equity firm Platinum Equity announced that its portfolio company Vertiv completed the purchase of the maintenance business of MEMS Power Generation, a privately-owned company headquartered in the United Kingdom that specializes in temporary power solutions.
This marks the third acquisition for Columbus, Ohio-based Vertiv, which provides software and services for IT infrastructure. Platinum Equity states that privately held Vertiv last reported annual revenue of $4.4 billion at the time of its acquisition in 2016.
Vertiv employs more than 20,000 people and does business in more than 130 countries.
MEMS will now focus entirely on its generator rentals solutions business.
“Since partnering with Vertiv in 2016, we continue to be impressed by the company’s vision and ability to execute strategic deals that serve to expand the business in key growth areas,” said Platinum Equity Partner Jacob Kotzubei. “The Vertiv management team continues to make smart investments to grow its global business and position the company for continued success.”
The 160 MEMS contract customers in the U.K. range from data centers to hospitals and universities to industrial companies and utilities. Vertiv will service the newly acquired MEMS customers with the Vertiv U.K. service team.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.
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