Power management firm Eaton is acquiring Boyd Corporation’s thermal business from Goldman Sachs Asset Management for $9.5bn (8.24bn).
Boyd Thermal supplies cooling components and custom thermal systems for major industries, including data centres and aerospace.
The acquisition expands Eaton’s data centre portfolio, offering a global “chip to grid” solution for hyperscale and colocation customers. It also strengthens Eaton’s aerospace solutions and immediately introduces proven, differentiated liquid cooling technology, key relationships and a global operational footprint.
Paulo Ruiz, Eaton chief executive officer, said: “Bringing together Boyd Thermal’s highly-engineered liquid cooling technology and global service model with Eaton’s existing products and scale will provide enhanced value to customers.
“In data centres particularly, our combined expertise in both power and liquid cooling from the chip to the grid will enable customers to manage increasing power demands more effectively.”
Doug Britt, Boyd Thermal CEO, said: “We are looking forward to joining forces with Eaton. Our decades of expertise in liquid cooling, combined with Eaton’s premier positioning in intelligent power management, will deliver innovation in scaling and efficiency to address the high-power demand of AI data centres.”
Following the transaction, Boyd’s engineered materials business will continue to operate as an independent company under the Boyd Corporation brand and continue to be backed by Goldman Sachs Alternatives.
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