Apollo funds agree to sell Kelvion to SLB for $4.1 billion
APO•SLB to buy Kelvion in $4.1 billion deal
SLB agreed to buy cooling-solutions maker Kelvion, which is majority owned by Apollo-managed funds, in a $4.1 billion deal.
Consideration includes about $3.4 billion cash; SLB will assume about $700 million of Kelvion debt.
Triton-advised funds’ minority stake will also be acquired as part of the transaction.
Kelvion supplies thermal management equipment for data centers; the business is positioned as a fit with SLB’s data center solutions push.
The companies expect the transaction to close in the first half of 2027, subject to customary closing conditions.
