Vertiv (NYSE: VRT) buys ThermoKey to boost AI data center cooling
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Vertiv Holdings has completed the acquisition of ThermoKey S.p.A., a specialist in heat rejection and heat-exchange technologies, through a wholly owned subsidiary. ThermoKey’s products, including dry coolers and advanced heat-exchange solutions compatible with low-GWP and natural refrigerants, will broaden Vertiv’s thermal management portfolio.
The deal is aimed at strengthening Vertiv’s ability to deliver system-level thermal solutions for AI factories and high-density data centers, with a particular focus on Europe, the Middle East, and Africa. ThermoKey’s Rivarotta, Italy operations will remain a key hub, and its CEO, Giuseppe Visentini, will continue to lead the business to provide continuity for employees, partners, and customers.
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Insights
Vertiv adds ThermoKey to deepen thermal solutions for AI and data centers, especially in EMEA.
Vertiv has closed its acquisition of ThermoKey, a provider of heat rejection and heat-exchange technologies. This strengthens Vertiv’s thermal management lineup for AI factories and high-density data centers, particularly in Europe, the Middle East, and Africa, where ThermoKey already has manufacturing and engineering capabilities.
The acquisition brings ThermoKey’s dry coolers, heat-exchange solutions, and low-GWP refrigerant compatibility into Vertiv’s portfolio, supporting more flexible thermal architectures. ThermoKey’s leadership and operations in Rivarotta, Italy, remain in place, which may help integration by preserving customer relationships and technical know-how built over more than 30 years.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
ThermoKey founding year: 1991
ThermoKey engineering expertise duration: more than 30 years
Vertiv global presence: more than 130 countries
3 metrics
ThermoKey founding year
1991
Founded in 1991, ThermoKey brings engineering expertise
ThermoKey engineering expertise duration
more than 30 years
ThermoKey brings more than 30 years of engineering expertise
Vertiv global presence
more than 130 countries
Vertiv does business in more than 130 countries
Key Terms
heat rejection, heat-exchange technologies, high-density data centers, low-GWP and natural refrigerants, +1 more
5 terms
heat rejection technical
"a leading provider of heat rejection and heat-exchange technologies"
Heat rejection is the process by which a device, system, or facility removes excess thermal energy to keep temperatures within safe operating limits, using methods such as cooling fluids, fans, radiators or heat exchangers. It matters to investors because effective heat rejection influences product reliability, energy use, maintenance costs and regulatory compliance — like a car radiator preventing engine overheating, inadequate cooling can shorten life, raise costs or force costly redesigns.
heat-exchange technologies technical
"a leading provider of heat rejection and heat-exchange technologies"
Systems and devices that move heat from one place or fluid to another to warm, cool, or recover energy—think of them as industrial radiators that let factories, power plants, buildings, and machines shed or reuse heat efficiently. Investors care because better heat-exchange technology can cut fuel and electricity bills, lower emissions, reduce regulatory risk, and increase the lifespan or output of equipment, affecting operating costs, capital needs and potential market demand.
high-density data centers technical
"solutions across the full thermal chain for AI factories and high-density data centers"
High-density data centers are facilities that pack a large amount of computing power and storage into a small physical space, using more electrical power and cooling per square foot than traditional centers—think a high-rise apartment for servers rather than single-story homes. They matter to investors because higher density can boost revenue and space efficiency but also raises construction, energy and cooling costs and operational risks; that mix affects profit margins, capital needs and exposure to demand for cloud and AI services.
low-GWP and natural refrigerants technical
"compatibility with low-GWP and natural refrigerants that complement Vertiv's portfolio"
forward-looking statements regulatory
"This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
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Item 7.01 Regulation FD
On June 12, 2026, Vertiv Holdings Co., a Delaware corporation (the “Company”), issued a press release announcing the closing, by one of its wholly-owned subsidiaries, of the acquisition of ThermoKey S.p.A. (the “Acquisition”).
The press release announcing the closing of the Acquisition is furnished as Exhibit 99.1 to this Form 8-K.
The information set forth in Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 (d) Financial Statements and Exhibits
| Exhibit No. | Exhibit Description | |||||||
| 99.1 | Press release of Vertiv Holdings Co, dated June 12, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 12, 2026 | Vertiv Holdings Co | ||||
| /s/ Craig Chamberlin | |||||
| Name: Craig Chamberlin | |||||
| Title: Chief Financial Officer | |||||
Vertiv Completes Acquisition of ThermoKey, Expanding Heat Rejection Portfolio for AI Data Centers
Acquisition expected to strengthen thermal management capabilities and manufacturing capacity in Europe, Middle East and Africa to support high-density computing
COLUMBUS, Ohio June 12, 2026-- Vertiv Holdings Co (NYSE: VRT), a global leader in critical digital infrastructure, today announced the completed acquisition of ThermoKey S.p.A., a leading provider of heat rejection and heat-exchange technologies with long-standing relationships across original equipment manufacturers (OEMs) and system integrators.
The acquisition expands Vertiv's thermal management portfolio and manufacturing capabilities, particularly in Europe, Middle East, and Africa (EMEA), and strengthens its ability to deliver system-level solutions across the full thermal chain for AI factories and high-density data centers. ThermoKey benefits from Vertiv’s global scale, supporting accelerated growth and expanded market access while enhancing Vertiv's ability to provide thermal architectures that help customers plan for multiple compute generations ahead.
Vertiv currently uses ThermoKey’s technologies in select thermal solutions. ThermoKey’s technology set includes heat-exchange solutions, dry coolers, and compatibility with low-GWP and natural refrigerants that complement Vertiv's portfolio, giving customers flexibility to optimize for performance, site conditions, and growth. Founded in 1991, ThermoKey brings more than 30 years of engineering expertise, in-house design and production capabilities to support its customers and markets.
"Customers are scaling AI infrastructure at an unprecedented pace, and thermal performance is now a critical enabler of capacity and efficiency," said Giordano Albertazzi, CEO at Vertiv. "With ThermoKey, we are strengthening our capabilities to deliver differentiated, integrated, high-performance heat rejection solutions that help customers deploy faster, operate more efficiently, and scale with confidence."
The ThermoKey Rivarotta, Italy, operations will continue to be a key hub for manufacturing, engineering, and support. Giuseppe Visentini, CEO of ThermoKey, will continue to lead the business, providing continuity for employees, partners, and customers. "Joining Vertiv means bringing our heat-exchange expertise into a complete, integrated thermal chain that serves high-density data centers," said Visentini. "We share Vertiv's engineering rigor and customer focus. ThermoKey joins Vertiv on a path of sustained growth, and from Italy we will continue to build on that momentum and contribute to the strength of the group across EMEA and around the world."
For more information about Vertiv and its end-to-end portfolio of solutions and services, visit vertiv.com.
About Vertiv
Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit vertiv.com.
Category: Financial News
Forward-looking statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act. These statements are only a prediction. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Readers are referred to Vertiv’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning Vertiv and its operations. Those risk factors and risks related to the transaction, among others, could cause actual results to differ materially from historical performance and include, but are not limited to: expected expenses related to the transaction; the possible diversion of management time on issues related to integration; the ability of Vertiv to maintain relationships with customers and suppliers of ThermoKey; and the ability of Vertiv to retain management and key employees of ThermoKey. Vertiv is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Vertiv Holdings Co
For investor inquiries, please contact:
Lynne Maxeiner
Vice President, Global Treasury & Investor Relations
Vertiv
E: lynne.maxeiner@vertiv.com
For media inquiries, please contact:
Ruder Finn for Vertiv
E: Vertiv@ruderfinn.com
FAQ
What transaction did Vertiv (VRT) announce in its latest 8-K filing?
Vertiv announced the completed acquisition of ThermoKey S.p.A. through a wholly owned subsidiary. ThermoKey specializes in heat rejection and heat-exchange technologies, enhancing Vertiv’s capabilities in thermal management solutions for AI factories and high-density data centers, particularly in the EMEA region.
How does ThermoKey strengthen Vertiv (VRT) in AI and high-density data centers?
ThermoKey adds advanced heat-exchange solutions, dry coolers, and low-GWP refrigerant compatibility to Vertiv’s portfolio. These technologies support system-level thermal architectures that help customers deploy AI and high-density computing faster, operate more efficiently, and plan for multiple generations of computing hardware.
What geographic benefits does the ThermoKey acquisition bring to Vertiv (VRT)?
The acquisition expands Vertiv’s thermal manufacturing and engineering footprint in Europe, the Middle East, and Africa. ThermoKey’s Rivarotta, Italy operations remain a key hub, giving Vertiv stronger regional capacity to support data centers and AI infrastructure customers across EMEA markets with localized expertise.
Will ThermoKey’s leadership and operations change after joining Vertiv (VRT)?
ThermoKey’s CEO, Giuseppe Visentini, will continue to lead the business after the acquisition. Operations in Rivarotta, Italy remain central for manufacturing, engineering, and support, helping maintain continuity for ThermoKey’s employees, partners, and customers while integrating into Vertiv’s global platform.
What experience does ThermoKey contribute to Vertiv (VRT) following the acquisition?
ThermoKey brings more than 30 years of engineering expertise in heat rejection and heat-exchange solutions. It offers in-house design and production capabilities and long-standing relationships with OEMs and system integrators, which can support Vertiv’s system-level thermal offerings for data centers and AI applications.
How does Vertiv (VRT) describe the strategic rationale for buying ThermoKey?
Vertiv highlights that thermal performance is now critical for AI capacity and efficiency. By acquiring ThermoKey, Vertiv aims to deliver differentiated, integrated, high-performance heat rejection solutions that support faster deployment, efficient operation, and scalable growth for AI factories and high-density data centers globally.