Vertiv Acquires Efficient Energy Assets

After negotiations with a potential investor fell through, Efficient Energy, a pioneer in the water-based chiller industry, entered administration on June 2. After failing to secure a sponsor, insolvency procedures were initiated on September 1 at Munich District Court.The company's more than 200 patents, as well as the technology and specific other assets, were subsequently purchased by Vertiv's Italian affiliate Vertiv Srl. The parties have agreed to keep the specifics of the agreement with Vertiv Srl a secret. Formerly known as Emerson Network Power, Vertiv is a provider of equipment and services for data centres as well as the owner of chillers under the Liebert brand.With three months to locate a sponsor, Dr. Matthias Hofmann of the law firm Pohlmann Hofmann was appointed as the provisional insolvency administrator. Hofmann has been working with the management consulting firm SGP Corporate Finance to identify a suitable investor, but the company was unable to be salvaged despite negotiations with a "large number" of potential investors.Georg Dietrich, the former MD of Efficient Energy, stated after the sale that the Italian Vertiv Srl will eventually utilise the technology that we had worked so hard to create over the previous few years. We are convinced that this technology has a bright future.

Source: Vertiv