The sale, worth $1.25 billion (approx. £960 million), will boost Vertiv’s ability to invest and allocate resources to its primary targets. It also makes Schneider the global leader in the Automatic Transfer Switch (ATS) market, putting it in a strong position in the data centre space.
ASCO is a leading manufacturer of ATSs, a key component in the data centre process. They transfer loads between two sources, such as backup generators and main power sources. ASCO currently employs around 2000 people and has been producing ATSs since 1925. It has been operating as an arm of Vertiv until this sale.
In 2016 Vertiv was sold to Platinum Equity, after which the company pursued a new focus. CEO Rob Johnson said: “This sale is a significant step forward in our evolution as the premier provider of digital critical infrastructure solutions.
“This is consistent with our strategy of focusing on our customers and aligning the strengths of our organization.”
Platinum Equity Partner Jacob Kotzubei also welcomed the decision and noted that it would allow Vertiv to focus on its core elements. He praised the work and effort of Vertiv staff, and said: “The sale of ASCO will further support those efforts and help Vertiv continue focusing on its core business.”
Vertiv, which formerly operated as Emerson Network Power designs and builds infrastructure for data centres, communications networks and commercial and industrial facilities. Employing around 20,000 staff worldwide, it has contracts with names like Microsoft and AT&T.
Schneider, a global specialist in energy management and automation, recently announced the release of a new cooling system using indirect evaporative technology, allowing for efficient and cost-effective cooling in cloud and colocation data centres.