Vertiv to buy PurgeRite for $1.0 billion upfront, plus up to $250 million more
Vertiv's subsidiary Vertiv Corporation agreed on October 31, 2025 to acquire Purge Rite Intermediate, LLC (PurgeRite), a provider of fluid management services for data centers, from Milton Street Capital LLC. The deal carries about $1.0 billion in upfront cash, subject to customary adjustments, plus up to $250 million in additional cash tied to post-closing performance metrics, and Vertiv expects to fund it from existing resources. The company says the price is about 10.0x expected 2026 EBITDA including expected cost synergies, and the deal is expected to close in the fourth quarter of 2025.
Key points
- Upfront cash consideration of about $1.0 billion, plus up to $250 million in additional cash based on performance metrics
- Press release says the price is about 10.0x expected 2026 EBITDA including expected cost synergies, and lower if the earn-out is paid
- Expected to close in the fourth quarter of 2025; the Hart-Scott-Rodino waiting period must expire or terminate before January 29, 2026
- Vertiv expects to fund the acquisition from existing resources; PurgeRite is headquartered in Houston, Texas
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 03, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.