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Registrace: 15.7. 2021 Příspěvky: 70
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Zaslal: čt 09. září, 2021 6:35 Předmět: Donegal engineering firm to be sold for £1.4bn |
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Donegal engineering firm to be sold for £1.4bn
The Donegal-based firm E&I Engineering is being sold in a deal worth up to $2bn (£1.45bn).
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The business, which was founded by Derry City Football Club chairman Philip O'Doherty, is a significant employer in the north-west.
It is being bought by Ohio-based Vertiv Holdings.
E&I makes electrical switchgear and power distribution systems which is installed in facilities like data centres.
Vertiv said it was buying the business to "meaningfully complete" its data centres services business.
It will make an upfront payment of $1.8bn (£1.3bn) in cash and shares with the potential for up to $200m (£145m) in additional cash, based on achieving 2022 profit milestones.
E&I has annual sales of around $460m (£333m) and 2,100 employees.
It is an attractive business because of its long-standing relationships with a blue-chip customer base in more than 30 countries, particularly in the growing data centre sector. |
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