Acquired by Comfico: Cooled Data Centre, Ivi now under new ownership
In a strategic move to bolster its presence in the growing liquid cooling market, London-based private equity fund PX3 Partners' portfolio company, Cofimco, has announced the acquisition of Ilmed Industrial Ventilation (IVI), a Turin-based axial cooling systems company with nearly four decades of experience.
The acquisition is part of Cofimco's international growth strategy, aiming to capitalise on the robust growth trajectory of liquid cooling technologies across industrial, telecom, and data center applications over the next decade.
Industry analysts predict that the global liquid cooling systems market will grow at a compound annual growth rate (CAGR) between 7.1% and 10.7%, depending on the specific segment considered. For instance, industrial cooling systems, which include liquid cooling, are expected to grow at a CAGR of 7.1% from 2025 to 2032, reaching a market value of about USD 34.91 billion by 2032. Meanwhile, the liquid-cooled radio access network (RAN) segment, a critical part of telecom infrastructure cooling, is forecasted to grow at a faster CAGR of 10.7% from 2025 to 2034.
In the data center sector, the market was valued at approximately USD 1.5 billion in 2024 and is projected to expand rapidly to around USD 6.2 billion by 2030, driven by increasing power densities in data centers, energy efficiency goals, and sustainability requirements. More than 50% of new hyperscale data center capacity is expected to use liquid cooling by 2027, highlighting the accelerating adoption in this sector.
The acquisition of IVI, with its strong presence in China, will strengthen Cofimco's position in data center cooling, naval construction, energy generation, and high-intensity industry. The union of these two Italian companies also has other sectors in focus, including the naval sector and energy production.
Cofimco is setting up a new plant in Houston, Texas, to serve the dynamic North American market for digital infrastructure and renewable energy. Demand for high-performance cooling systems is growing in the Asia-Pacific region, with IVI's production plant in Ningbo, China, being a strong point.
The global HVAC market, which includes heating, ventilation, and air conditioning, could exceed $60 billion by 2032. The global data center cooling systems market is currently worth around $16.8 billion and is expected to exceed $42 billion by 2032, growing at a CAGR of 12.4%. The growth outlook for liquid cooling is even more dynamic, expected to grow at a CAGR of 33% until 2032.
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[1] MarketandMarkets. (2021). Industrial Liquid Cooling Systems Market Worth USD 21.58 Billion by 2032. [Online]. Available: https://www.marketsandmarkets.com/PressReleases/liquid-cooling-systems/liquid-cooling-systems-market-worth-usd-21-58-billion-by-2032.html
[2] MarketsandMarkets. (2021). Liquid-cooled Radio Access Network Market Worth USD 3.2 Billion by 2034. [Online]. Available: https://www.marketsandmarkets.com/PressReleases/liquid-cooled-radio-access-network/liquid-cooled-radio-access-network-market-worth-usd-3-2-billion-by-2034.html
[3] MarketsandMarkets. (2021). Data Center Liquid Cooling Market Worth USD 6.2 Billion by 2030. [Online]. Available: https://www.marketsandmarkets.com/PressReleases/data-center-liquid-cooling/data-center-liquid-cooling-market-worth-usd-6-2-billion-by-2030.html
This article is translated by AI.
- The strategic acquisition of Ilmed Industrial Ventilation (IVI) by Cofimco is part of its international growth strategy, not only focusing on the data center cooling market but also aiming to capitalize on the growing liquid cooling finance opportunities in the industrial, telecom, and data center business sectors over the next decade.
- With the acquisition of IVI, Cofimco strengthens its position in the global liquid cooling technology industry, particularly in the rising Asian-Pacific market, and positions itself to take advantage of the anticipated compound annual growth rate (CAGR) of 33% in the liquid cooling market by 2032.
