Vertiv to Buy ThermoKey, Expanding EMEA Cooling Capacity for AI Data Centers
Vertiv has agreed to acquire ThermoKey S.p.A., adding its microchannel heat exchangers, dry coolers and air-cooled condensers to Vertiv’s thermal management suite for high-density AI data centers. The deal enhances Vertiv’s EMEA production capacity and system-level integration across liquid and air cooling, slated to close in Q2 2026.
1. Acquisition Details
Vertiv entered into an agreement to acquire ThermoKey S.p.A., a specialized Italian provider of heat-exchange technologies, including dry coolers and microchannel heat exchangers. The transaction is subject to customary closing conditions and is expected to finalize in the second quarter of 2026.
2. Portfolio and Capabilities
ThermoKey brings over 30 years of engineering in heat rejection, offering dry coolers, air-cooled condensers and microchannel solutions compatible with low-GWP and natural refrigerants. These assets complement Vertiv’s TrimCooler systems and liquid-cooling products, extending its end-to-end thermal chain.
3. Strategic Benefits
The acquisition expands Vertiv’s manufacturing footprint in EMEA, boosting capacity to serve rapidly growing AI-ready data center demand. It also enhances system-level integration, allowing customers to optimize cooling performance and energy efficiency across liquid and air solutions.