KKR in talks to divest liquid cooling provider CoolIT

Sale Data Center announced Mar 9, 2026

USD3B

Deal Value

operating

Stage

CoolIT Systems

Project

Investment giant KKR is reportedly looking to offload data center liquid cooling provider CoolIT Systems in a deal potentially exceeding $3 billion. KKR acquired CoolIT in 2023 for an undisclosed amount, and the company designs and manufactures advanced liquid cooling solutions for data centers. The process is in early stages with multiple potential bidders earmarked.

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Counterparts (2)

parent_company

CoolIT Systems

company

CoolIT Systems is a Canadian technology company specializing in advanced direct liquid cooling (DLC) solutions for high-performance computing (HPC), data centers, and enterprise servers. It provides integrated cooling systems globally to enhance efficiency and density in critical digital infrastructure.

Seller

KKR

company · 2 deals

KKR is a leading global investment firm that invests across private markets, including infrastructure, with the goal of delivering strong returns and shared success to its clients and the world at large. They focus on fortifying companies and communities and helping secure the futures of institutions and individuals.

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Deal Analysis

KKR is reportedly seeking to divest CoolIT Systems for over $3 billion, a move that comes just three years after the global investment firm acquired the data center liquid cooling specialist in 2023. This quick potential flip by a firm known for its infrastructure investments suggests a rapid appreciation in value for advanced cooling solutions. CoolIT, which designs and manufactures these critical systems for data centers, is already attracting multiple potential bidders in the early stages of the process. The reported price tag underscores the premium placed on essential infrastructure supporting the expanding data center landscape.

KKR's potential divestment of CoolIT Systems for over $3 billion.
The global investment firm acquired CoolIT just three years prior, in 2023.
CoolIT designs and manufactures advanced liquid cooling for data centers.
Multiple potential bidders are already earmarked for the early-stage process.

Source Intelligence

KEY DETAILS

KKR acquired the firm in 2023 for an undisclosed amount. Quote: "KKR acquired the firm in 2023 for an undisclosed amount." CoolIT was founded in 2001. Quote: "Founded in 2001, CoolIT designs, engineers, and manufactures advanced liquid cooling solutions". CoolIT had previously raised around $10 million over four funding rounds. Quote: "CoolIT had previously raised around $10 million over four funding rounds." Previous investors include the Business Development Bank of Canada, nVent, Kline Hill Partners, Vistara Capital Partners, Inovia Partners, AVAC Group, and Chart Venture Partners. Quote: "Previous investors include the Business Development Bank of Canada, nVent, Kline Hill Partners, Vistara Capital Partners, Inovia Partners, AVAC Group, and Chart Venture Partners." The process is in the early stages and there are no guarantees of a sale. Quote: "The process is in the early stages and there are no guarantees of a sale, according to reports."

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Deal Size

a deal potentially exceeding $3 billion.

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Financials

a deal potentially exceeding $3 billion.

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Announcement

March 09, 2026 By Dan Swinhoe

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Expected Close

The process is in the early stages and there are no guarantees of a sale

PARTIES MENTIONED IN SOURCE

KKR seller

"Investment giant KKR is reportedly looking to offload data center cooling provider CoolIT."

CoolIT Systems company being sold

"sale ‌of liquid cooling company CoolIT Systems"

advisers advisor

"the private equity firm is working with advisers on a sale"

Multiple buyers buyer

"Multiple buyers have reportedly been earmarked as potential bidders."

high quality Enriched Mar 9, 2026

Timeline

Announced

Mar 9, 2026

Signed

Closed

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Source

www.datacenterdynamics.com

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