Vertiv Holdings Co, a global leader in critical digital infrastructure, has announced it has entered into an agreement to acquire Purge Rite Intermediate, LLC, a leading provider of mechanical flushing, purging and filtration services for data centres and other mission-critical facilities, from Milton Street Capital LLC for approximately 1.0 billion in cash consideration at closing plus the potential additional consideration of up to 250 million in cash based on achieving certain 2026 performance metrics.
The acquisition, at approximately 1.0 billion purchase price, represents approximately 10.0x expected 2026 earnings before interest, taxes, depreciation, and amortisation EBITDA including expected cost synergies. The expected EBITDA multiple is anticipated to be lower than 10.0x if the earn-out is paid. The acquisition is anticipated to be margin accretive to Vertivs Services business which operates above corporate average margins. PurgeRite is expected to enhance Vertivs thermal management services capabilities and strengthen its position as a global leader in next-generation thermal chain services for liquid cooling systems, including those that support AI data centres.
As high-performance computing HPC and the AI factories of the future drive higher heat densities that demand liquid cooling technology, it is crucial to deploy and maintain clean fluid loops to maximise cooling performance. Achieving this starts with optimal flow at commissioning by establishing ultra-clean, air-free, chemically stable coolant, and preserving that balance to maintain performance throughout the system's lifecycle. Effective fluid management - including high-velocity fluid loop flushing to remove debris, purging to remove air and gas, and filling with clean fluid - is an essential service that enables high-density data centre operations by creating the conditions for greater thermal efficiency, operational resiliency, and data centre uptime.
