Vertiv to acquire ThermoKey

Author: Joe Peck

Vertiv, a global provider of critical digital infrastructure, has announced an agreement to acquire ThermoKey, as part of its ongoing focus on data centre cooling technologies.

The acquisition is expected to expand Vertiv’s thermal management portfolio and manufacturing capabilities, particularly across EMEA. It also aims to strengthen the company’s ability to support high-density data centres and AI workloads, where cooling performance and efficiency are increasingly important.

ThermoKey develops heat rejection and heat exchange technologies, with established relationships across original equipment manufacturers and system integrators. Its range includes dry coolers and microchannel-based systems designed for data centre and industrial applications.

Giordano Albertazzi, CEO at Vertiv, notes, “Heat rejection is becoming increasingly critical for data centres and AI factories as the industry seeks new ways to unlock capacity, improve energy efficiency, and scale with confidence.

“Through our work with ThermoKey, we have come to value its differentiated heat-exchange technologies, engineering depth, and relationships across OEMs and system integrators.

“This acquisition is expected to expand the options available to our customers as they adopt more efficient cooling strategies and build infrastructure designed to stay ahead of rapidly evolving compute demands.”

Founded in 1991 and based in Italy, ThermoKey has more than three decades of experience in designing and manufacturing heat exchangers for data centre cooling and other applications.

Expanding thermal capabilities for AI data centres

The company’s portfolio includes heat exchangers, dry coolers, air cooled condensers, and liquid cooling systems. Its technologies are compatible with low global warming potential (GWP) and natural refrigerants, aligning with wider industry efforts to improve efficiency and reduce environmental impact.

ThermoKey’s engineering and production capabilities are expected to complement Vertiv’s existing thermal portfolio, while also increasing manufacturing flexibility and available capacity. This is intended to help meet rising demand for cooling infrastructure in high-density computing environments.

For data centre operators, the acquisition is expected to support more integrated thermal system design, allowing coordination between liquid cooling, air cooling, and heat rejection technologies. This approach can help optimise performance based on site conditions, efficiency targets, and future expansion requirements.

The transaction remains subject to regulatory approvals and other customary conditions, with completion anticipated in the second quarter of 2026.