A Lincoln-based plastics manufacturer has sold one of its divisions.
Vertiv, a Columbus, Ohio-based company that was spun out of Emerson Electronics, announced Wednesday that it has purchased Geist, which makes server racks, cooling systems and other products for data centers.
Terms of the transaction between Vertiv and Geist's parent company, PCE Inc., were not disclosed.
Geist got its start in Lincoln 70 years ago making molded plastic products for Lincoln's telephone company. It later started a niche business making power strips for data centers and is now one of the largest providers of data center products in the world. PCE bought the company in 1997.
Vertiv, a multibillion dollar company with more than 20,000 employees, said the acquisition fits its strategy of adding complementary capabilities in its key markets, which are cooling and power-management systems for data centers.
“By adding the Geist portfolio, we further strengthen our position in the PDU (power distribution unit) industry and add power management choices for our customers,” CEO Rob Johnson said in a news release.
The Geist acquisition comes just a week after Vertiv announced the acquisition of Energy Labs, a privately-owned, San Diego-based manufacturer of evaporative cooling systems.
Vertiv said Geist will continue to be based out of Lincoln, and all of its approximately 250 employees will be retained. The company has an 87,000-square-foot office and manufacturing facility a 1777 Yolande Ave., near Cornhusker Highway, that was built in 2016.
In addition, Geist president Brad Wilson will continue as manager of the business.
In the news release, Wilson called the acquisition "a great fit between two companies with complementary technology portfolios and a shared vision for a more efficient, more secure data center.”
PCE will continue to own its other businesses, Lincoln Plastics and HTI Plastics, both based in Lincoln, and Apex Plastics, located in Brookfield, Missouri.