Rivarotta, Rivignano Teor (UD), Italy, June 15, 2026 — ThermoKey S.p.A., a Friuli-based company specializing in the development and manufacturing of high-efficiency heat exchange solutions, and Vertiv (NYSE, S&P 500), a global leader in critical digital infrastructure, announce the completion of Vertiv’s acquisition of ThermoKey, strengthening its thermal management portfolio for AI and high-density data center applications.

This transaction brings technology developed in Friuli Venezia Giulia to the core of one of today’s most strategic industries: the infrastructure that powers cloud computing, artificial intelligence, and high-performance digital services.

With its integration into Vertiv, ThermoKey gains access to a global industrial and commercial network that will enable the company to accelerate growth and further develop its product offering. The company’s headquarters will remain in Rivarotta, all 320 employees will remain in place, and Giuseppe Visentini — who has led the company since its turnaround in 2013 — will continue as CEO, ensuring continuity for customers, partners, and employees.

“For ThermoKey, this transaction represents both an acceleration and a recognition of the work carried out over the years,” said Visentini. “Since 2013, we have built a solid path of industrial growth based on technology, manufacturing capabilities and people, and with Vertiv we are gaining the global scale needed to fully leverage it. We bring to a global leader the heat rejection expertise and manufacturing culture developed in Friuli, along with a highly talented team. Our responsibility now is to turn this new dimension into growth opportunities for the company, its people and the local territory.”

The transaction comes at a time of profound transformation in the market. The rapid growth of artificial intelligence is driving demand for high-capacity, compact and energy-efficient data centers. As computing density and performance increase, thermal management becomes increasingly critical.

“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.”

Over the past years, ThermoKey’s development has been supported by IGI Private Equity, which partnered with the company to accelerate investment in research and development (R&D), expand production capacity, and strengthen organizational capabilities. During this time ThermoKey has developed proprietary technologies for more efficient, resilient and resource-efficient cooling. Solutions include dry coolers and high-performance heat exchangers, including aluminum configurations and compatibility with low-GWP and natural refrigerants, designed to improve thermal efficiency and reduce environmental impact compared to traditional solutions.

“In recent years, ThermoKey — also thanks to the support of IGI Private Equity — has accelerated investments in R&D, strengthened its organizational structure and significantly expanded its production capacity,” said Angelo Mastrandrea, Partner at IGI Private Equity and Chairman of ThermoKey. “This path has created the conditions for positioning the company as a technology partner to major international players. Joining Vertiv represents the natural evolution of this strategy and opens a new phase of growth.”

For customers and partners, the integration will ensure operational continuity, increased industrial strength, and a strengthened international presence. ThermoKey will continue to serve its markets with the same technical, collaborative, and quality-driven approach that has underpinned its growth, building on long-standing relationships with OEMs, system integrators, customers, and players across HVAC, refrigeration, process cooling, and data center cooling.

With the completion of the transaction, IGI exits its investment, having helped position ThermoKey for its next phase of global expansion.

For the local territory, the transaction reinforces Friuli-Venezia Giulia’s ability to generate advanced expertise in high-tech sectors. ThermoKey will continue to operate, innovate, design and manufacture thermal management technologies at its Rivarotta site, contributing to strengthening the region’s role as a hub for advanced manufacturing and engineering.

A growth journey that continues, building on expertise, people, and a strong connection with the Friuli region.

Financial terms of the transaction were not disclosed.

For more information on Vertiv’s leading portfolio of power and thermal management, infrastructure solutions, IT systems, and services for critical digital applications, visit Vertiv.com.