Mr. Cote, CEO of GSAH and former Executive Chairman and CEO of Honeywell, will serve as Executive Chairman of Vertiv. Vertiv’s current management team will continue to be led by Rob Johnson, CEO with 30 years of industry experience. The transaction is expected to close during the first quarter of 2020, at which time Vertiv shares will trade under the NYSE ticker symbol VRT.

“Platinum Equity, Rob Johnson, and his team have done a great job over the past few years positioning Vertiv for long-term success. The company is exactly the asset we were looking for, with an excellent position in a good industry, technologically differentiated products, strong organic and inorganic growth potential, and opportunities for sustained improvements over time. Overall, I am delighted with Vertiv’s short- and long-term prospects and the opportunity this represents for shareholders,” said Mr. Cote.

Tom Gores, President and CEO of Platinum Equity, said: “I am proud of the work our team has done at Vertiv to position it where it is today, and I am very pleased with the new collaboration with our friend David and our long-time partners at Goldman Sachs. Rob Johnson and the management team have done a great job preparing the company for its next phase of growth.”.

“This transaction allows us to accelerate our growth and innovation strategy and expand our opportunities as we continue to focus on the evolving needs of our customers,” said Rob Johnson, CEO of Vertiv. “Our collaboration with David, who has a proven track record of driving operational improvements and creating shareholder value, will further enhance our trajectory as we seek to capitalize on our strong foundation in a growing industry.”
Jacob Kotzubei, Partner at Platinum Equity, who will become a member of the board of the newly listed company, commented: “We are pleased to collaborate with Goldman Sachs and Dave Cote in the next stage of Vertiv and to be part of the company’s future success as a significant shareholder. We also look forward to working with Dave, Rob, and the Vertiv management team to accelerate the company’s service and product leadership in the industry.”