I personally prefer the trick of using a hidden pseudo element to span the full height of the outer container, and vertically aligning it with the other content.
Chris Coyier has a nice article on the technique. http://css-tricks.com/centering-in-the-unknown/
The huge advantage of this is scalability. You don't have to know the height of the content or worry about it growing/shrinking. This solution scales :).
Here's a fiddle with all the CSS you'll need and a working example.
http://jsfiddle.net/m5sLze0d/
.center:before {
content: ""; /* Adding Extra Space Above Element */
display: inline-block;
height: 100%;
margin-right: -0.3em;
vertical-align: middle;
}
.center_element {
display:inline-block;
float:none;
vertical-align:middle;
white-space:normal;
text-align:left;
}