Columbus – October 12, 2026 -- Vertiv (NYSE: VRT) has completed its acquisition of ThermoKey S.p.A., adding heat rejection and heat-exchange manufacturing capacity in Europe, the Middle East and Africa (EMEA) as AI factories and high-density data centers drive demand for thermal systems. The release does not disclose financial terms.
ThermoKey adds heat-exchange and dry cooler technology to Vertiv's thermal chain
ThermoKey supplies heat-exchange solutions and dry coolers, and its technology is compatible with low-GWP and natural refrigerants. Vertiv says this complements its existing portfolio and lets customers optimize for performance, site conditions and growth. The company already uses ThermoKey technologies in select thermal solutions.
Vertiv says the deal strengthens its ability to deliver system-level solutions across the full thermal chain. It also expects the added capability to support thermal architectures that help customers plan multiple compute generations ahead.
ThermoKey brings 30 years of engineering and OEM relationships
Founded in 1991, ThermoKey has more than 30 years of engineering experience and in-house design and production capabilities. It has long-standing relationships with original equipment manufacturers (OEMs) and system integrators. Vertiv says ThermoKey will gain from its global scale, with accelerated growth and expanded market access.
Vertiv CEO Giordano Albertazzi said thermal performance is now "a critical enabler of capacity and efficiency" as customers scale AI infrastructure.
Rivarotta, Italy, remains the manufacturing and engineering hub
ThermoKey's Rivarotta, Italy, operations will continue as a key hub for manufacturing, engineering and support. ThermoKey CEO Giuseppe Visentini will continue to lead the business, which Vertiv says provides continuity for employees, partners and customers.
Vertiv's risk disclosures for the transaction include integration-related expenses, the diversion of management time, and the need to retain ThermoKey's customer and supplier relationships, management and key employees.