07:36 AM EST, 11/03/2025 (MT Newswires) -- Vertiv ( VRT ) said Monday it has agreed to acquire PurgeRite Intermediate, a provider of mechanical flushing, purging, and filtration services for data centers and other mission-critical facilities, from Milton Street Capital for about $1 billion in cash.

The deal also includes additional consideration of up to $250 million tied to 2026 performance, the company said.

The company said the acquisition, set to close in Q4, is expected to be margin accretive to its services business and enhance its liquid cooling and thermal management capabilities, including for AI data centers.

PurgeRite will integrate with Vertiv's ( VRT ) existing liquid cooling services to offer end-to-end thermal solutions from facility to rack, the company added.