Vertiv has completed its acquisition of ThermoKey S.p.A., an Italian manufacturer of high-efficiency heat exchange solutions, strengthening its thermal management portfolio for AI and high-density data center applications.
ThermoKey, based in Friuli-Venezia Giulia, develops and manufactures heat exchange solutions for industrial applications in air conditioning, refrigeration, process cooling and data centers. The company’s headquarters will remain in Rivarotta, and all 320 employees will remain in place.
Giuseppe Visentini, who has led ThermoKey since its turnaround in 2013, will continue as CEO. ThermoKey will gain access to Vertiv’s global industrial and commercial network, while continuing to serve OEMs, system integrators, customers and companies across HVAC, refrigeration, process cooling and data center cooling.
ThermoKey’s solutions include dry coolers and high-performance heat exchangers, including aluminum configurations and compatibility with low-GWP and natural refrigerants. The company said these solutions are designed to improve thermal efficiency and reduce environmental impact compared to traditional solutions.
“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 of 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.”
Financial terms of the transaction were not disclosed. IGI Private Equity exits its investment in ThermoKey following the completion of the transaction.
