(Reuters) -Vertiv Holdings on Monday said it would acquire HVAC services firm PurgeRite Intermediate for about $1 billion, as the data center power equipment maker seeks to expand its liquid cooling services portfolio.
Shares of the company rose 1.5% before the bell.
The acquisition from the private equity firm Milton Street Capital is expected to close in the fourth quarter of 2025.
This comes at a time when AI boom increases pressure on the power grid, pushing data center operators to adopt more efficient, low-emission designs, such as liquid and natural air cooling, to reduce energy and water use.
On the same day, peer Eaton also announced it would buy Boyd Corporation’s thermal business, which comprises its liquid cooling technology, for $9.5 billion.
PurgeRite provides mechanical flushing, purging and filteration services for heating, ventilation and air conditioning (HVAC) systems to data centers as well as industrial and commercial facilities.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Vijay Kishore)
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