Apollo Funds to Acquire Kelvion, a Leading Global Provider of Heat Exchange & Cooling Solutions

Company Overview - Kelvion is a leading global provider of energy-efficient heat exchange and cooling solutions, with a strong presence in thermal management across various industrial and high-growth markets [2][8] - The company has a significant focus on advanced cooling technologies for data centers, which is its largest and fastest-growing segment [2] - Kelvion plays a crucial role in key energy transition markets, including carbon capture, hydrogen, electrification, renewables, and heat pumps, delivering reliable and sustainable solutions globally [2] Acquisition Details - Apollo-managed funds have agreed to acquire a majority stake in Kelvion from Triton, which will retain a minority interest [1] - The transaction is subject to regulatory approvals and is expected to close between Q4 2025 and Q1 2026 [5] Strategic Positioning - Kelvion has undergone a significant transformation since being acquired by Triton in 2014, shifting its portfolio towards secular megatrends in High Tech and Green Tech [3] - The company is well-positioned to benefit from large secular tailwinds, including the AI and cloud revolution, energy transition, and reindustrialization [4] Management Insights - Apollo's partners expressed confidence in Kelvion's management team and their ability to continue transforming the business into a leading solutions provider [4] - Kelvion's CEO highlighted the company's strength and commitment to innovation, emphasizing the importance of Apollo's expertise in clean energy and industrial technology as a new partner [4] Financial Commitment - Over the past five years, Apollo-managed funds have committed, deployed, or arranged approximately $58 billion in climate and energy transition-related investments [4]