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• Schneider Electric for data centers
• Emerson Electric for digital infrastructure
• GE Healthcare for the digital world

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• Uninterruptible Power Supplies (UPS): Provides continuous power protection to critical equipment against outages and power fluctuations.
• Thermal Management Systems: Offers precision cooling solutions, including CRAC/CRAH units and chillers, to maintain optimal operating temperatures for IT equipment.
• Racks & Enclosures: Supplies physical infrastructure like server racks and enclosures to securely house and organize IT equipment.
• Integrated Modular Solutions: Delivers pre-fabricated and scalable data center solutions for rapid deployment and expansion.
• Monitoring & Management Software: Provides software platforms, including Data Center Infrastructure Management (DCIM), to monitor, manage, and optimize data center infrastructure performance.
• Services: Offers a comprehensive suite of services including installation, maintenance, repair, and optimization for their critical infrastructure solutions.

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• Hyperscale Cloud Providers: These are the world's largest cloud service providers that build and operate massive data centers requiring extensive power, thermal, and IT infrastructure management.
  • Alphabet Inc. (for Google Cloud) - NYSE: GOOGL, GOOG
  • Amazon.com, Inc. (for Amazon Web Services - AWS) - NASDAQ: AMZN
  • Microsoft Corporation (for Microsoft Azure) - NASDAQ: MSFT
• Colocation Data Center Providers: Companies that provide shared data center space, power, and cooling services to multiple clients, relying on robust infrastructure to ensure uptime and efficiency.
  • Equinix, Inc. - NASDAQ: EQIX
  • Digital Realty Trust, Inc. - NYSE: DLR
  • CoreSite Realty Corporation (now part of American Tower Corporation) - NYSE: AMT
• Telecommunications Companies: Telecom operators require critical infrastructure for their network operations, including central offices, edge computing sites, and mobile network deployments (e.g., 5G).
  • AT&T Inc. - NYSE: T
  • Verizon Communications Inc. - NYSE: VZ
  • T-Mobile US, Inc. - NASDAQ: TMUS

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Giordano Albertazzi, Chief Executive Officer

Giordano Albertazzi became Vertiv Chief Executive Officer in January 2023. He is responsible for operations and business development globally, focusing on operational performance improvement and strengthening Vertiv's competitive position through innovation. Albertazzi began his career at Kone Elevators before joining Emerson Network Power (now Vertiv) in 1998. He has held numerous leadership roles within the company, including plant manager, marketing and product management director for Europe, Middle East and Africa (EMEA), managing director for the Italian market unit, and vice president of services for Liebert Europe and the broader EMEA region. In 2016, following the rebrand to Vertiv, he served as president of the company in EMEA, driving significant operational and financial improvements. Before his CEO appointment, he was President, Americas and Chief Operating Officer. He holds a bachelor's degree in mechanical engineering from the Polytechnic University of Milan and a master's degree in management from Stanford University.

David Fallon, Chief Financial Officer

David Fallon was appointed chief financial officer of Vertiv in July 2017 and has over 25 years of experience in financial management with global companies. Prior to joining Vertiv, he served as chief financial officer at CLARCOR, Inc., a publicly traded global filtration company, from 2010 to 2017. He also held the role of chief financial officer and vice president of finance for Noble International, a publicly traded auto supplier, from 2002 to 2009. His earlier career included positions as treasury manager at Textron Automotive and financial analyst at DaimlerChrysler. Fallon earned a bachelor's degree from the University of Dayton and an MBA from the Wharton School of Business. He is a Chartered Financial Analyst and a Certified Public Accountant (inactive). Mr. Fallon is anticipated to retire in the second half of 2025.

Stephen Liang, Chief Technology Officer and Executive Vice President

Stephen Liang serves as Vertiv's Chief Technology Officer and Executive Vice President, responsible for aligning the organization's vision and strategy for future technology developments and identifying opportunities for innovative global products and solutions. He started his career with Emerson in 1994, working in Astec, a power supply solutions business. He progressed through various leadership roles, including vice president of manufacturing operations in the Philippines and executive vice president of Asian operations. He became president of Emerson Network Power China in 2001 and later president of Emerson Network Power Asia Pacific in 2009, carrying these responsibilities into the rebranded Vertiv in 2016. He was appointed chief technology officer in 2020/2021. Liang holds a bachelor's and a master's degree in mechanical engineering from the Massachusetts Institute of Technology. He is expected to retire on January 1, 2026.

Anand Sanghi, President of the Americas

Anand Sanghi is the President of the Americas region for Vertiv. He was appointed to this role in July 2023. Prior to this, he served as President of Vertiv's Asia Pacific region. Sanghi has a long history with the company, having served as president for the Asia Pacific region and as Vice President of Global Edge and Integrated Solutions for Vertiv. He also led the India business for Vertiv for several years. His background includes various leadership positions within the organization, contributing to the company's growth and market presence in different regions.

Karsten Winther, President, Europe, Middle East & Africa (EMEA)

Karsten Winther serves as the President for Vertiv's Europe, Middle East & Africa (EMEA) region. In this role, he is responsible for driving the company's business development and operations across this diverse geographic area. Winther has a significant tenure with Vertiv and its predecessor, Emerson Network Power, holding various leadership positions. His expertise lies in sales, marketing, and general management within the critical infrastructure and data center industry, contributing to Vertiv's strategic initiatives and customer relationships in the EMEA market.

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The key risks to Vertiv's business include:

1. Supply Chain Disruptions and Cost Fluctuations: Vertiv faces ongoing challenges related to global supply chain disruptions, which have impacted lead times and operational efficiency. The company is also exposed to cost fluctuations in raw materials and reliance on single-source suppliers, which can lead to increased costs and affect profitability.
2. Increased Competition and Technological Disruption: Vertiv operates in a competitive market, facing challenges from other players in the digital infrastructure sector. A notable risk is the entry of major companies like Amazon into the cooling technology market with advanced liquid cooling systems, posing a direct threat to Vertiv's data center solutions. Furthermore, the emergence of new technologies that can optimize computing resources or reduce the need for data centers could potentially decrease demand for Vertiv's products.
3. Dependence on Data Center Market Dynamics: Vertiv's business prospects are closely tied to the growth and dynamics of the data center and communication networks industry. Any decrease in demand for data centers or unpredictable customer orders could adversely affect the company's business and revenue. Vertiv also experiences long sales cycles, which can lead to significant revenue variability.

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The increasing adoption of open hardware standards, particularly by hyperscale data center operators through initiatives like the Open Compute Project (OCP), represents a clear emerging threat. This trend aims to commoditize critical infrastructure hardware, potentially eroding Vertiv's ability to differentiate through proprietary designs and maintain historical profit margins on its power, thermal, and IT infrastructure solutions.

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Vertiv (VRT) operates within several significant addressable markets for its critical digital infrastructure products and services, primarily serving data centers, communication networks, and commercial and industrial environments. The key market sizes are as follows:

• Critical Power and Cooling Solutions: The global critical power and cooling market is estimated to be valued at USD 29.4 billion in 2025 and is projected to reach USD 87.2 billion by 2035, registering a compound annual growth rate (CAGR) of 11.5% over the forecast period.
• Thermal Management Solutions: The global thermal management system market size was valued at USD 76.57 billion in 2024 and is projected to grow to USD 141.00 billion by 2032, exhibiting a CAGR of 8.1% during the forecast period. The Asia Pacific region dominated the global market with a share of 49.38% in 2024.
• Data Center Infrastructure: The global data center infrastructure market was valued at USD 62.5 billion in 2023 and is estimated to register a CAGR of over 12.5% between 2024 and 2032. North America held a major share of over 40% of the global data center infrastructure market in 2023.
• Edge Computing: The global edge computing market size is estimated at USD 168.40 billion in 2025 and is expected to reach USD 248.96 billion by 2030, growing at a CAGR of 8.1%. Another estimate places the global market at USD 18.3 billion in 2024, projected to reach USD 114.4 billion by 2033. North America dominated the global edge computing market with the largest revenue share of over 38% in 2024.
• IT Infrastructure Services: The global IT infrastructure services market size is estimated at USD 120.15 billion in 2024, set to expand to USD 267.07 billion by 2033, growing at a CAGR of 10.5%. North America leads this market, accounting for more than 40% of global data center capacity.

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Here are 3-5 expected drivers of future revenue growth for Vertiv (VRT) over the next 2-3 years:

1. Accelerated Demand from AI-driven Infrastructure: The rapid expansion of AI deployments, particularly in hyperscale and enterprise data centers, is significantly increasing the need for Vertiv's specialized power and cooling solutions. Vertiv is actively collaborating with industry leaders like NVIDIA to develop advanced technologies such as liquid cooling and 800-volt DC power distribution to meet the demands of next-generation AI infrastructure.
2. Growth in Hyperscale and Colocation Data Centers: Beyond AI, the overall robust growth in hyperscale and colocation data center sectors continues to be a primary revenue driver. Vertiv has indicated strong market visibility in these segments extending into 2026.
3. Capacity Expansion and Operational Efficiency: Vertiv is strategically investing in expanding its manufacturing capacity and enhancing operational efficiency to fulfill the rising global demand for its products. This includes increasing its physical footprint and improving productivity, which directly supports the conversion of its substantial backlog into future revenue.
4. Strong Backlog and Order Momentum: The company's significant backlog, which reached $9.5 billion as of Q3 2025, represents a 30% year-over-year increase, providing substantial revenue visibility well into 2026. Consistent strong order momentum, as evidenced by a 1.4x book-to-bill ratio in Q3 2025, further underpins anticipated future sales growth.
5. Innovation in Product Portfolio and Service Offerings: Vertiv's comprehensive product portfolio, which includes advanced thermal systems, liquid cooling, uninterruptible power supplies (UPS), and modular solutions, addresses the evolving needs of high-density data centers. Continued innovation in areas like liquid cooling and high-voltage DC, alongside a focus on expanding service offerings, is crucial for both revenue growth and margin expansion.

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1. Share Repurchases

• Vertiv Holdings Co authorized a share repurchase program of up to $3 billion worth of its Class A Common Stock, valid until December 31, 2027.
• The annual share buybacks for VRT stock were reported as $599.9 million in 2024.

2. Share Issuance

• Vertiv became a publicly traded company in February 2020 through a reverse merger with GS Acquisition Holdings Corp, valued at approximately $5.3 billion, providing access to public capital markets.
• As of September 30, 2025, Vertiv had 382,258,808 shares of common stock issued and outstanding, an increase from 380,703,974 shares outstanding at December 31, 2024.
• The company's Certificate of Incorporation authorizes the issuance of up to 700,000,000 shares of Class A common stock and 20,000,000 shares of undesignated common stock.

4. Outbound Investments

• Vertiv announced an agreement to acquire Great Lakes Data Racks & Cabinets for $200 million in July 2025, a transaction completed in August 2025, to strengthen its leadership in high-density integrated infrastructure offerings for data centers.
• In November 2025, Vertiv announced its intent to acquire PurgeRite for approximately $1.0 billion in cash, with potential additional consideration of up to $250 million, to expand its liquid cooling services portfolio.
• Vertiv's net acquisitions/divestitures were approximately -$0.017 billion in 2023 and -$0.005 billion in 2022, indicating net acquisitions.

5. Capital Expenditures

• Vertiv's capital expenditures are expected to be approximately $250 million in 2025, with further expansion anticipated in 2026 to support significant revenue growth.
• The company projects 2025 capital expenditures between $250 million and $300 million, representing 2.5% to 3% of sales, with a primary focus on accelerating growth investments in next-generation technologies and AI-optimized infrastructure solutions.
• Vertiv's capital expenditure plan for 2025, amounting to approximately $275 million (or 3% of sales), is geared towards supporting strong growth in high-density power and cooling solutions, particularly for AI infrastructure.