Vertiv finalizes ThermoKey acquisition to scale thermal infrastructure for AI buildouts

Vertiv Holdings (NYSE:VRT) has finalized its acquisition of ThermoKey, a specialized European manufacturer of heat-rejection and heat-exchange systems, directly expanding its critical digital infrastructure portfolio.

The completion of the deal follows an initial corporate agreement announced in late March and accelerates Vertiv's ongoing capital allocation toward advanced cooling architectures optimized for artificial intelligence (AI) factories.

The addition of the Italy-based thermal manufacturer expands Vertiv's physical production capacity and engineering depth across the Europe, Middle East, and Africa (EMEA) region.

ThermoKey’s core product lines—including specialized dry coolers, air-cooled condensers, liquid-cooling apparatuses, and microchannel heat exchangers—will be integrated into Vertiv’s existing thermal pipeline.

This structural integration is aimed at providing end-to-end, system-level thermal architectures necessary to sustain the extreme power densities demanded by next-generation graphics processing unit (GPU) clusters.