Johnson Controls has bought a manufacturer of cold plates and other liquid-cooling components.

The company this week announced it has signed an agreement to acquire Alloy Enterprises, a Boston-based company specializing in thermal management components for data centers and other mission-critical industrial applications.

Terms were not shared. The deal is expected to close in Q3 2026.

"This acquisition is about enabling our customers to stay ahead of fast-changing compute demands by adding another core technology that enables us to optimize the overall thermal management architecture of a data center,” said Lei Schlitz, vice president and president, global products & solutions. “It will also strengthen our core technology capabilities that can scale across the Johnson Controls portfolio and reinforces our long-term commitment to lead more broadly in advanced thermal management solutions for mission-critical applications."

Founded in 2020, Alloy Enterprises is a thermal, mechanical, and materials sciences technology firm. Alloy fabricates aluminum and copper components using its patented Stack Forging manufacturing process, creating cold plates, heat pipes, and other components. Johnson said the move will expand its capabilities in the growing data center cooling segment.

"We're excited to join Johnson Controls and accelerate the impact of our unique technology," said Alison Forsyth, co-founder and CEO of Alloy Enterprises. "We'll continue to work closely to solve the industry's most urgent challenges in data centers and other mission-critical environments. We look forward to this new chapter and continuing to scale with one of the world's most respected and experienced leaders in thermal management innovation."

Johnson Controls provides and deploys data center solutions across more than 150 countries. In 2024, it launched a dedicated data center solutions business to provide integrated solutions to data center customers on a global scale. It offers many data center cooling products through its Silent-Aire unit.

Johnson has previously invested in two-phase direct-to-chip liquid cooling firm, Accelsius.