E&I Engineering Group

Founded in 1986, E&I Engineering Group is a global supplier of switchgears, busbars and modular power solutions. The company has enterprises in Ireland, the USA and the United Arab Emirates (by September 2021). The company, founded by Philip O'Dougherty, who by September 2021 still holds the position of CEO. The annual sales volume of E&I Engineering Group reaches about $460 million, the company employs 2100 employees around the world. In 2021, the company completed the expansion of its $13 million plant in South Carolina (USA), which led to the creation of 200 jobs.

History

2021: Vertiv bought E&I Engineering Group for $2 billion

In early September 2021, the manufacturer UPS Vertiv announced the purchase of a competitor to E&I Engineering Group. Vertiv will pay $1.8 billion for the company and its daughter Powerbar Gulf, including $1.17 billion in cash and $630 million in Vertiv shares.

E&I Engineering Group products are critical to the data center energy infrastructure sector and compete in a market worth about $7 billion, which is expected to grow 5% annually through 2025.

Vertiv acquired E&I Engineering Group for $2 billion

Vertiv plans to hire about 100 new employees in three of its offices in the northwestern United States in 2022 after the deal closes.

E&I Engineering Group CEO Philip O'Dougherty, who also serves as chairman of Derry City Football Club, is one of the main beneficiaries of the deal, given his large stake in the company.

Other major shareholders are top managers Damien McAuley, Cathal McLaughlin and Paul Connolly. All four are also directors of Powerbar, a company headquartered in Cyprus that, according to the company's latest available reports, had a large stake in the company.^[1]

Notes