ExitMonday, August 31, 2026
Apollo agrees to sell Kelvion to SLB in $3.4bn cash deal
Kelvion, a thermal management technology maker serving data center and industrial markets, is being sold to SLB for $3.4bn in cash.
Kelvion develops and manufactures thermal management technology serving data center and industrial end-markets.
Apollo-managed funds hold a majority stake in Kelvion, and Triton-advised funds hold a minority stake. The article does not provide further terms, timing for closing, or advisers.
Deal facts
- Target
- Kelvion
- Business
- Global developer and manufacturer of thermal management technology for data center and industrial markets
- Buyer
- SLB
- Deal type
- Exit
- Value
- $3.4bn
- Status
- Announced, not yet closed
- Announced
- Monday, August 31, 2026
Sources
- PEI Private EquityAug 31, 2026
- PEI Private EquitySep 1, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.