ThermoKey, founded in 1991, supplies dry coolers, microchannel heat exchangers, air-cooled condensers, and liquid cooling systems for data centres, OEMs, and process cooling applications. The company is known for its engineering expertise, long-standing OEM relationships, and technologies compatible with low-GWP and natural refrigerants.

Vertiv said the acquisition is expected to strengthen its ability to support integrated thermal architectures across the full cooling chain, including heat rejection, as operators seek to improve energy efficiency and manage rising thermal loads associated with AI infrastructure.

“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,” said Giordano Albertazzi, CEO at Vertiv. He added that ThermoKey’s engineering capabilities and established OEM partnerships would expand the options available to customers adopting higher-efficiency cooling strategies.

ThermoKey’s design and production capabilities are expected to enhance Vertiv’s thermal technology base and provide additional manufacturing flexibility. Vertiv also expects the company’s available production capacity to support growing demand for thermal infrastructure.

According to Vertiv, customers stand to benefit from expanded support for high-efficiency cooling approaches, improved system level integration within Vertiv’s converged physical infrastructure strategy, and broader access to advanced dry cooling and heat exchange technologies in EMEA.

The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second quarter of 2026.