SLB to acquire Kelvion from Apollo funds for $4.1 billion

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Go back to SLB to acquire Kelvion from Apollo funds for $4.1 billion

Apollo Funds Agree to Sell Kelvion, a Global Leader in Cooling Solutions for Data Centers and Diversified Industrials, to SLB for $4.1 billion

August 31, 2026 6:50 AM EDT

NEW YORK and HERNE, Germany, Aug. 31, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that global energy technology company SLB (NYSE: SLB) has entered into definitive agreement to acquire 100% of Kelvion, a leading global developer and manufacturer of thermal management solutions, for approximately $3.4 billion in cash and will assume approximately $0.7 billion of debt. Today, Kelvion is majority owned by Apollo-managed funds; funds advised by Triton hold a minority interest that will also be acquired by SLB.

Kelvion is a global leader in advanced cooling solutions, helping to drive... More