SLB Acquires Kelvion from Apollo Funds for $4.1 Billion
SLB has agreed to acquire Kelvion for approximately $4.1 billion, enhancing its data center solutions with advanced thermal management technology. This acquisition aligns with SLB's strategy to address the increasing complexity and demand in data center infrastructure driven by AI growth.
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SLB will acquire Kelvion for about $3.4 billion in cash and will assume $0.7 billion in debt, with the transaction closing expected in the first half of 2027, pending regulatory approvals. Kelvion specializes in thermal management solutions, which will complement SLB's rapidly growing data center solutions business, projected to exceed 2 gigawatts globally by year-end.
This acquisition aims to enhance SLB's integrated infrastructure offerings and capitalize on the anticipated growth in AI-driven data center demands. The deal is part of a broader trend in industrial technology investments focusing on sustainable and efficient infrastructure.
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