Vertiv up on $1 billion deal to acquire PurgeRite

Shares of data center equipment maker Vertiv VRT.N up 1.8% at $196.28 premarket

VRT says entered into a deal to acquire PurgeRite from Milton Street Capital for about $1 bln in cash

The deal has potential additional consideration of up to $250 mln in cash, based on achieving certain 2026 performance metrics

PurgeRite is a provider of mechanical flushing, purging and filtration services for data centers

Up to last close, VRT had gained ~70% this year