Form 8-K · Current Report · Filed 2026-03-24

Vertiv Holdings Co. to Acquire ThermoKey, S.p.A for Advanced Cooling Solutions

Vertiv Holdings Co. announced on March 23, 2026, the acquisition of ThermoKey, S.p.A, a leading provider of heat rejection and heat-exchange technologies. This strategic move is expected to expand Vertiv's thermal management portfolio and manufacturing capabilities, particularly in EMEA, and strengthen its ability to deliver comprehensive solutions across the end-to-end thermal chain for AI factories and high-density data centers. The acquisition is expected to provide several advantages, including enhanced support for high-efficiency cooling strategies in AI and high-density applications, improved system-level integration across thermal infrastructure, the ability to optimize across liquid cooling, air cooling, and heat rejection as an integrated thermal chain, and expanded access in EMEA to advanced dry-cooling and heat-exchange technologies. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2026.