LayerZero
| Private | |
| ISIN | 🆔 |
| Industry | Power distribution equipment |
| Founded 📆 | 2001 |
| Founder 👔 | Milind Bhanoo, James M. Galm |
| Headquarters 🏙️ | Aurora, Ohio, U.S. |
Area served 🗺️ | |
Key people | Milind Bhanoo (President), James M. Galm (Vice President), Annette Clayton (Chair of the Board) |
| Products 📟 | Power distribution and monitoring equipment |
| Members | |
Number of employees | |
| Parent | Advent International |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
LayerZero, also known as LayerZero Power Systems, Inc., is an American company based in Aurora, Ohio, that manufactures power distribution and monitoring equipment for industries requiring continuous power, such as data centers, financial services, telecommunications, and semiconductor manufacturing.[1] Founded in 2001 by engineers Milind Bhanoo and James M. Galm, LayerZero gained significant attention in June 2025 when private equity firm Advent International acquired a majority stake for approximately $1 billion, with Bhanoo and Galm retaining minority shares and Annette Clayton, former CEO of Schneider Electric North America, appointed as Chair of the Board.[1][2][3]
History
LayerZero was established in 2001 in Chagrin Falls, Ohio, by Milind Bhanoo and James M. Galm to produce power distribution equipment for mission-critical applications.[2] The company relocated its headquarters to Aurora, Ohio, in 2012 and expanded its manufacturing facilities in 2022.[4] In 2024, LayerZero acquired an additional facility in Streetsboro, Ohio, to further scale production.[3] In June 2025, Advent International acquired a majority stake for approximately $1 billion, reflecting LayerZero’s role in supporting AI and high-performance computing infrastructure.[1][2][3]
Operations and Market
LayerZero produces equipment that ensures uninterrupted power for industries like data centers, telecommunications, and semiconductor manufacturing, competing with companies such as Vertiv, Schneider Electric, and Eaton Corporation.[1][5] Its products are used by Fortune 100 companies and are critical for AI and cloud computing applications, driven by increasing data center power demands.[3][6]
Acquisition by Advent International
In June 2025, Advent International, a global private equity firm, acquired a majority stake in LayerZero for approximately $1 billion, driven by growing demand for data center infrastructure to support AI and cloud computing.[1][2][3][6] The deal included the appointment of Annette Clayton as Chair of the Board, with founders Bhanoo and Galm retaining minority stakes. Advent aims to expand LayerZero’s manufacturing capacity and customer base.[3]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "Advent to buy majority stake in data center equipment maker LayerZero". Reuters. June 30, 2025. Retrieved July 17, 2025.
- ↑ 2.0 2.1 2.2 2.3 "Global private equity firm to acquire LayerZero Power Systems for $1 billion". Crain's Cleveland Business. June 30, 2025. Retrieved July 17, 2025.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 "Advent acquires stake in LayerZero to scale manufacturing capacity to meet AI demand". DataCenterDynamics. July 1, 2025. Retrieved July 17, 2025.
- ↑ "LayerZero $2.8 million dollar expansion could bring 30-40 jobs to Aurora". Record-Courier. February 2, 2021. Retrieved July 17, 2025.
- ↑ "North America Data Center Power Market". MarketDataForecast. Retrieved July 17, 2025.
- ↑ 6.0 6.1 "Advent acquires $1B stake in LayerZero to power the AI data center boom". Tech Startups. June 30, 2025. Retrieved July 17, 2025.
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