Core Viewpoint - Vertiv Holdings Co has announced a planned acquisition of Purge Rite Intermediate, LLC for approximately $1.0 billion, aimed at enhancing its leadership in next-generation thermal chain services for high-density and AI-driven environments [1][2]. Financial Summary - The acquisition price of approximately $1.0 billion represents about 10.0x expected 2026 EBITDA, which may decrease if additional performance-based payments of up to $250 million are made [1]. - The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions and regulatory approvals [7]. Strategic Importance - This acquisition is seen as a strategic expansion of Vertiv's fluid management capabilities, enhancing its ability to support high-density computing and AI applications where efficient thermal management is critical [4]. - PurgeRite's services will integrate with Vertiv's existing offerings to provide comprehensive thermal management solutions, improving system performance and reducing downtime risks [6][4]. Industry Context - The demand for liquid cooling technology is increasing due to high-performance computing and AI applications, necessitating effective fluid management to maximize cooling performance [3]. - PurgeRite is recognized as an industry leader in mechanical flushing, purging, and filtration services for mission-critical data center applications, with strong relationships across hyperscalers and Tier 1 colocation providers [3].