Apollo funds agree to sell Kelvion to SLB for $4.1 billion

Reuters2026/08/31 10:50

By:Reuters

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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.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Apollo Global Management Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608310650PRIMZONEFULLFEED9818121) on August 31, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Apollo funds agree to sell Kelvion to SLB for $4.1 billion

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