Vertiv, a global leader in critical digital infrastructure, today announced it has entered into an agreement to acquire ThermoKey S.p.A., a leading provider of heat rejection and heat-exchange technologies with long-standing relationships across original equipment manufacturers (OEMs) and system integrators. This move is part of Vertiv’s ongoing investment in advanced cooling solutions to support high-density AI data centres. Upon completion, the acquisition is expected to expand Vertiv’s thermal management portfolio and manufacturing capabilities, especially in EMEA, and enhance its capacity to deliver comprehensive solutions across the entire thermal chain for AI factories and high-density data centres.
Upon closing, ThermoKey is expected to advance Vertiv’s converged physical infrastructure strategy by broadening the range of thermal technologies available to customers and improving Vertiv’s capacity to support integrated, system-level thermal architectures that help customers stay ahead across multiple compute generations. ThermoKey’s portfolio of dry coolers and microchannel-based heat-exchange solutions enhances Vertiv’s comprehensive thermal chain, offering customers flexibility to optimise for performance, site conditions, and growth.
“Heat rejection is becoming increasingly vital for data centres and AI facilities as the industry looks for new ways to unlock capacity, boost energy efficiency, and scale confidently,” said Giordano Albertazzi, CEO at Vertiv. “Through our work with ThermoKey, we have grown to appreciate its distinctive heat-exchange technologies, engineering expertise, and relationships with OEMs and system integrators. This acquisition is expected to broaden the options available to our customers as they implement more efficient cooling methods and develop infrastructure prepared to meet the demands of rapidly evolving computing needs.”
Founded in 1991 and based in Italy, ThermoKey has over thirty years of engineering and manufacturing expertise in heat exchangers for data centre cooling and other demanding applications.
The company has established long-standing relationships with leading manufacturers and installers worldwide and is recognised for its engineering expertise, application knowledge, and customer collaboration in data centre, OEM, and process-cooling settings. Its unique engineering capabilities, microchannel technologies, and support for low-GWP and natural refrigerants position it as an ideal choice for advanced, energy-intensive AI data centre environments.
ThermoKey’s in-house design and production capabilities, along with its portfolio of heat exchangers, dry coolers, air-cooled condensers, and liquid cooling systems, are expected to strengthen Vertiv’s all-encompassing thermal technology base and manufacturing flexibility. Additionally, ThermoKey’s available production capacity is expected to support Vertiv’s ongoing expansion of its thermal portfolio and help meet rising customer demand in key thermal infrastructure sectors.
For customers, the acquisition is expected to provide several advantages, including:
- enhanced support for high-efficiency cooling strategies in AI and high-density applications,
- improved system-level integration across thermal infrastructure within Vertiv’s converged physical infrastructure,
- the ability to optimise across liquid cooling, air cooling, and heat rejection as an integrated thermal chain, including expanded heat rejection capabilities, such as Vertiv™ CoolLoop TrimCooler systems, to improve power utilisation and efficiency, and
- expanded access in EMEA to advanced dry-cooling and heat-exchange technologies, and enhanced engineering and manufacturing support for the speed and scale required in next-generation data centre deployments.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to close in the second quarter of 2026.
For more information about Vertiv’s portfolio of solutions, visit www.vertiv.com
