Eaton has completed its acquisition of Boyd Thermal in a move designed to strengthen its liquid cooling offering for data centres and expand its wider end-to-end infrastructure capabilities.

The deal gives Eaton access to a business specialising in thermal components, systems and ruggedised solutions for data centres, aerospace and other industrial markets. It comes as suppliers across the sector look to respond to growing demand for infrastructure capable of supporting increasingly power-hungry AI workloads.

Liquid cooling is becoming a bigger priority for the data centre industry as higher rack densities place greater strain on traditional cooling approaches. Eaton is positioning the acquisition as a way to bring power and cooling solutions closer together.

Paulo Ruiz, Eaton CEO, noted, “Boyd Thermal’s expertise in liquid cooling will enable us to continue to meet soaring AI-driven demand. We’ll deliver integrated solutions from grid to chip that boost reliability, speed deployments and create greater value for customers worldwide. We’re excited to welcome the Boyd Thermal team to Eaton and work together to meet the growing needs of our data center customers.”

Boyd Thermal is a US-based business with more than 6,000 employees and manufacturing sites across North America, Asia and Europe. Eaton said the company’s engineering expertise and customer-led development capabilities would help support faster and more reliable deployments for data centre customers.

Doug Britt, CEO, Boyd Corporation, added, “We’re thrilled to be joining Eaton, combining our decades of thermal innovation with Eaton’s global scale and power management expertise. This positions Eaton to deliver integrated power and cooling solutions that meet the accelerating demands of AI. Together, we’ll deliver smarter, more reliable solutions for customers worldwide.”

The deal was previously announced in November 2025 and valued at $9.5 billion.