Jeantet advises Vertiv (NYSE: VRT) on the sale of its french subsidiary, Vertiv Industrial Systems, and the foreigne assets of its industrial business in the United Kingdom, Turkey, Spain and theUunited Arab Emirates
Paris, 10 January 2022 – Jeantet advised Vertiv, a company listed on the New York Stock Exchange (NYSE), on the sale of its French subsidiary Vertiv Industrial Systems (now Chloride) and the foreign assets of its industrial activities in the United Kingdom, Turkey, Spain and the United Arab Emirates, forming the Chloride group, to Innovafonds with the support of the Management and BPI France.
Chloride, which achieved pro forma sales of $90 million in 2021, is one of the world’s leading developers and manufacturers of Uninterruptible Power Supply (UPS) systems for critical installations in the Energy, Transport, Industry and Infrastructure sectors. Chloride employs more than 300 people worldwide and generates 70% of its revenue internationally, where the group has an installed base of nearly 70,000 UPS that it maintains and renovates in operational conditions, often in environments that are hostile to electrical installations (extreme temperatures, salinity, Atex environments, etc.).
Vertiv, a $5 billion US listed company with approximately 21,000 employees and operations in more than 130 countries, formed by Platinum Equity through the acquisition of Emerson’s Network Power business, is a global leader in the development and installation of uninterruptible power systems and critical digital infrastructure in the Energy, Transport and Industry sectors. It is headquartered in Columbus, Ohio, USA.
The Jeantet team was led by Stephen Walters (partner), assisted by Victoria Régis, Stanislas Chaudun and Paul Jolivet (associates), in corporate M&A and Frédéric Sardain (partner) and Sophie Boinnot (associate) in intellectual property.
The following firms also acted as legal counsel to Vertiv: Bellwether Green (John Bingham, Steven Templeton) in Scotland, Baker McKenzie (Enrique Valera, Concha Martin) in Spain, OAU Legal (Erman Oncel, Cemal Umut Uygun) in Turkey and BonelliErede (Marco De Leo) in the United Arab Emirates.
Rothschild Transaction R (Pierre Sader, Adélaïde Cangardel) acted as financial advisor to Vertiv.
For Innovafonds and the Management, Lamy Lexel acted as legal counsel.
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