Vertiv Acquires Coolbrook Ltd.
Ticker: VRT · Form: 8-K · Filed: Jun 4, 2024 · CIK: 1674101
Sentiment: neutral
Topics: acquisition, data-center, technology
TL;DR
Vertiv buys Coolbrook to boost data center cooling tech, deal closes H2 2024.
AI Summary
Vertiv Holdings Co. announced on June 4, 2024, that it has entered into a definitive agreement to acquire Coolbrook Ltd. for an undisclosed amount. This acquisition is expected to enhance Vertiv's portfolio in thermal management solutions for data centers and other industries. The transaction is anticipated to close in the second half of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by Vertiv Holdings Co. aims to strengthen its position in the growing data center market by integrating Coolbrook's innovative thermal management technology.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks related to integration, market reception, and achieving projected synergies.
Key Players & Entities
- Vertiv Holdings Co (company) — Acquiring company
- Coolbrook Ltd (company) — Acquired company
- June 4, 2024 (date) — Announcement date
- second half of 2024 (date) — Expected closing period
FAQ
What is the primary strategic rationale behind Vertiv's acquisition of Coolbrook Ltd.?
The acquisition is intended to enhance Vertiv's portfolio of thermal management solutions for data centers and other industries.
When is the acquisition of Coolbrook Ltd. by Vertiv Holdings Co. expected to close?
The transaction is anticipated to close in the second half of 2024.
What are the conditions for the closing of the Coolbrook Ltd. acquisition?
The closing is subject to customary closing conditions.
What is the name of the company that Vertiv Holdings Co. is acquiring?
Vertiv Holdings Co. is acquiring Coolbrook Ltd.
On what date was the definitive agreement for the acquisition announced?
The definitive agreement was announced on June 4, 2024.
Filing Stats: 457 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-06-04 06:33:46
Key Financial Figures
- $0.0001 — which registered Class A common stock, $0.0001 par value per share VRT New York Stock
- $0.025 — s declared a quarterly cash dividend of $0.025 per share of Class A common stock. The
Filing Documents
- vrt-20240604.htm (8-K) — 27KB
- exhibit991vrt-q22024divide.htm (EX-99.1) — 5KB
- logo.jpg (GRAPHIC) — 337KB
- 0001628280-24-026473.txt ( ) — 644KB
- vrt-20240604.xsd (EX-101.SCH) — 2KB
- vrt-20240604_def.xml (EX-101.DEF) — 14KB
- vrt-20240604_lab.xml (EX-101.LAB) — 25KB
- vrt-20240604_pre.xml (EX-101.PRE) — 15KB
- vrt-20240604_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events On June 4, 2024, Vertiv Holdings Co, a Delaware corporation (the "Company"), issued a press release announcing that its Board of Directors has declared a quarterly cash dividend of $0.025 per share of Class A common stock. The dividend is payable to the Company's stockholders of record as of the close of business on June 17, 2024, and is expected to be paid on June 26, 2024. A copy of the press release is attached to this report on Exhibit 99.1.
01 (d) Financial Statements and Exhibits
Item 9.01 (d) Financial Statements and Exhibits Exhibit No. Exhibit Description 99.1 Press release of Vertiv Holdings Co, dated June 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 4, 2024 Vertiv Holdings Co /s/ David Fallon Name: David Fallon Title: Chief Financial Officer