Trane to acquire liquid cooling company LiquidStack
10th February 2026
USA: Trane Technologies has entered into a definitive agreement to acquire LiquidStack, a US-based leader in data centre liquid cooling technology.
The move builds on the minority investment in the company made by Trane Technologies in 2023 and enhances its data centre thermal management solutions, spanning chillers, heat rejection, controls, liquid distribution, and onchip cooling.
The acquisition includes LiquidStack’s manufacturing, engineering and research and development operations in Texas and Hong Kong.
Upon closing, LiquidStack will operate globally within the commercial HVAC business unit of the Trane Technologies Americas segment.
LiquidStack co-founder and CEO Joe Capes will continue to lead the LiquidStack business and join Trane Technologies in a leadership role.
Last year, LiquidStack opened a second manufacturing facility in Carrollton, Texas, close to its existing headquarters and manufacturing site. The 17,000ft2 facility increased the company’s production capacity, while serving as a new R&D and service training facility.
The Carrollton facilities manufacture the company’s CDU-1MW, two-phase and single-phase immersion cooling solutions and the company’s MacroModular and MicroModular data centres.
The transaction is expected to close in early 2026, subject to closing conditions. Financial terms were not disclosed.
