Ireland-based climate control manufacturer Trane Technologies has agreed to acquire LiquidStack, a United States provider of liquid cooling technology for data centres headquartered in Carrollton, Texas, according to a Dallas Innovates report published 10 February.

The acquisition builds on Trane Technologies' 2023 minority investment in LiquidStack and enhances the company's data centre thermal management solutions spanning chillers, heat rejection, controls, liquid distribution and on-chip cooling capabilities. LiquidStack specialises in direct-to-chip and immersion cooling solutions for generative AI and hyperscale computing applications.

The transaction includes LiquidStack's global team and manufacturing, engineering and research and development operations in Texas and Hong Kong. Upon closing, LiquidStack will operate within the Commercial HVAC business unit of Trane Technologies' Americas segment. Financial terms were not disclosed.

"Customers need integrated cooling solutions that scale from the central plant to the chip and can adapt as performance demands continue to evolve," said Holly Paeper, president of Commercial HVAC Americas at Trane Technologies. "LiquidStack's direct-to-chip and immersion cooling capabilities and talent, combined with Trane's systems expertise and global footprint, strengthen our ability to deliver end-to-end, future-ready thermal management across the entire data centre ecosystem."

LiquidStack chief executive officer Joe Capes will join Trane Technologies in a leadership role and continue leading the LiquidStack business. LiquidStack relocated its headquarters from Boston to Carrollton in 2024 and opened a second manufacturing facility in Carrollton in 2025. The company secured $20 million (€16.87 million) in Series B funding in 2024.

The transaction is expected to close in early 2026 subject to closing conditions.

Read the complete article on Trane Technologies' LiquidStack acquisition strategy.