SLB to acquire data center cooling solutions provider Kelvion for approximately $4.1 billion
Type: Acquisition · Technology: Data Center · Country: United States · Value: $4.1B · Announced: 2026-08-31
SLB announced that it will acquire Kelvion for approximately $3.4 billion in cash and $0.7 billion of assumed debt, valuing the German thermal‑management company at over $4 billion. The transaction transfers ownership of Kelvion, which designs heat exchangers and cooling solutions for data centers, hydrogen production, and other industrial applications, from private‑equity owner Apollo to SLB. The deal was disclosed on 31 August 2026 and is expected to bolster SLB's Data Center Solutions business, which targets more than 2 GW of cumulative capacity by year‑end. By integrating Kelvion’s advanced cooling technologies, SLB aims to accelerate the rollout of energy‑efficient data‑center infrastructure worldwide. No financial or legal advisors were named in the announcement.
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