Apollo has struck a deal with global energy technology company SLB for the sale of Kelvion, a global developer and manufacturer of thermal management solutions for data centers and diversified industrials, for $3.4 billion in cash and approximately $700 million of debt.
Kelvion is a global leader in advanced cooling solutions, helping to drive greater efficiency and sustainability for customers across a broad spectrum of industrial and energy infrastructure end-markets.
Kelvion is majority owned by Apollo-managed funds. Funds advised by Triton hold a minority interest in the company and also will be acquired by SLB. With the support of the Apollo Infrastructure Group and Apollo’s Hybrid Value franchise, Kelvion has grown its global team and increased its strategic focus and investment in serving data centers, which represent its largest and fastest-growing segment.
“From the outset, our focus was on giving Kelvion management the resources and strategic suppo
