Vertiv is expanding its footprint in the data center thermal management market with the intent to acquire Purge Rite Intermediate, LLC (PurgeRite) from Milton Street Capital LLC for approximately US$1 billion in cash, plus an additional US$250 million potential earn-out tied to 2026 performance metrics.
The deal values PurgeRite at around 10x its projected 2026 EBITDA, including cost synergies, and is expected to be margin accretive to Vertiv’s Services business, which already operates above corporate average margins. Vertiv says the acquisition strengthens its role as a global leader in next-generation thermal chain services for liquid cooling systems – a critical component in AI-driven data centers.
As AI factories and high-performance computing push thermal demands higher, maintaining clean, air-free, and chemically stable liquid cooling systems has become essential for operational efficiency and uptime. With PurgeRite specializing in mechanical flushing, purging, and filtration, Vertiv aims to absorb the industry-leading solution into its own portfolio for a more comprehensive offering for AI data center operators to look into.
Based in Houston, Texas, PurgeRite also built a strong reputation among hyperscalers and Tier 1 colocation providers through its scalable operations and proprietary technologies. After the deal closes, its services will be integrated with Vertiv’s existing liquid cooling offerings, delivering end-to-end thermal management solutions from facility to rack.
Vertiv expects the combined expertise to deliver enhanced system performance, reduced downtime risk, and expanded service coverage across North America and beyond.
