Vertiv Holdings, a leader in critical digital infrastructure, announced that it has agreed to acquire Purge Rite Intermediate from Milton Street Capital for approximately $1 billion in cash at closing, with the potential for an additional $250 million based on 2026 performance metrics. The transaction is expected to close in the fourth quarter of 2025, pending customary regulatory approvals under the Hart-Scott-Rodino Antitrust Improvements Act.
The acquisition, valued at about 10.0x expected 2026 EBITDA, including anticipated cost synergies, is expected to be margin accretive to Vertiv’s Services business. PurgeRite’s expertise in mechanical flushing, purging, and filtration for mission-critical data centers will expand Vertiv’s thermal management capabilities and strengthen its position as a leader in next-generation liquid cooling solutions supporting high-density and AI-driven computing environments.
As artificial intelligence and high-performance computing continue to drive significant increases in heat density within data centers, efficient liquid cooling systems have become critical to maintaining operational stability. Clean, air-free, and chemically stable coolant loops are crucial for maximizing cooling performance and minimizing downtime. PurgeRite’s specialized services in fluid management—including high-velocity loop flushing, air purging, and filtration—are expected to complement Vertiv’s existing portfolio and enhance its ability to deliver end-to-end thermal management solutions.
Once integrated, PurgeRite’s services will align with Vertiv’s existing liquid cooling offerings, providing comprehensive thermal management from the facility level to the rack level. Customers are expected to benefit from enhanced heat transfer efficiency, reduced downtime risk, and expanded global service scalability. PurgeRite, headquartered in Houston, Texas, also plans to expand its service center network across North America following the acquisition.
Support: Stifel is acting as sole financial advisor to Vertiv, while Buchanan, Ingersoll & Rooney PC provided legal counsel. Harris Williams served as financial advisor to PurgeRite, with DLA Piper LLP (US) offering legal counsel.
KEY QUOTES:
“This acquisition represents a strategic expansion of Vertiv’s fluid management capabilities, from design through maintenance. PurgeRite’s specialized services and engineering excellence are expected to complement our existing portfolio and strengthen our ability to support high-density computing and AI applications where efficient thermal management is critical to performance and reliability. This transaction aligns with our priority of deploying capital towards strategic acquisitions that strengthen and expand our leadership across the critical digital infrastructure ecosystem.”
Gio Albertazzi, CEO at Vertiv
