Vertiv to acquire PurgeRite in $1 billion deal, expanding its leadership in advanced liquid cooling services

The acquisition strengthens Vertiv’s capabilities in thermal management for AI-driven and high-density data centres. The combined portfolio will enhance next-generation liquid cooling performance, reliability, and service scale.

Gio Albertazzi, CEO, Vertiv 

Vertiv Holdings Co, a global provider of critical digital infrastructure solutions, announced that it has signed a definitive agreement to acquire Purge Rite Intermediate, LLC from Milton Street Capital LLC. Vertiv will pay approximately $1 billion in cash at closing, with an additional earn-out of up to $250 million based on PurgeRite’s 2026 performance outcomes.

The transaction values PurgeRite at roughly 10x its projected 2026 EBITDA inclusive of anticipated cost synergies, with the effective multiple expected to decrease if the performance-based payment is triggered. Vertiv anticipates that the deal will be margin-accretive to its Services segment and significantly expand its portfolio of thermal management capabilities—particularly in liquid cooling systems that support the rapid rise of AI and high-performance computing (HPC) environments.

As AI data centres grow more complex and heat loads continue to climb, liquid cooling has become an essential technology for maintaining system efficiency and uptime. High-density facilities require pristine, balanced fluid loops to ensure maximum heat transfer. This includes removing debris through high-velocity flushing, eliminating trapped air and gases, and filling systems with clean, chemically stable coolant during commissioning and throughout the lifecycle of the installation. Reliable fluid management is increasingly viewed as fundamental for operational resilience and thermal efficiency in mission-critical environments.

PurgeRite brings to Vertiv a deep bench of engineering talent, proprietary service technologies, and a proven ability to execute large-scale projects on demanding timelines. The company has built strong relationships with hyperscale operators and Tier 1 colocation providers, becoming a trusted specialist in mechanical flushing, purging, and filtration services across the thermal chain—from chillers to coolant distribution units (CDUs).

“This acquisition represents a strategic expansion of Vertiv’s fluid management capabilities, from solution design all the way through ongoing maintenance,” said Gio Albertazzi, CEO of Vertiv. “PurgeRite’s technical expertise and specialised services complement our portfolio and strengthen our ability to support high-density computing and AI workloads, where effective thermal management is mission-critical. This move reflects our continued commitment to investing in acquisitions that extend our leadership in the digital infrastructure landscape.”

Once the deal closes, PurgeRite’s operations will integrate with Vertiv’s existing liquid cooling service offerings, creating a comprehensive suite of thermal solutions spanning facility, room, row, and rack-level requirements. Customers are expected to benefit from:

• Higher thermal efficiency through improved heat-transfer performance
• Reduced downtime risk via disciplined project planning, rapid execution, and industry-leading service processes
• Greater service reach and standardisation, supporting global customer needs with consistent quality

PurgeRite is headquartered in Houston, Texas, and plans to expand its service centre footprint across North America. Stifel is serving as Vertiv’s exclusive financial advisor, with Buchanan, Ingersoll & Rooney PC providing legal counsel. Harris Williams is advising PurgeRite, and DLA Piper LLP (US) is acting as legal counsel.

The acquisition is subject to customary closing conditions, including regulatory clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and is expected to close in the fourth quarter of 2025.