SLB to Acquire Kelvion, Expanding its Role Across Data Center Infrastructure
The deal expands SLB’s data center business and adds cooling technology as the companies target more than $2 billion in combined 2026 revenue.
- On Monday, August 31, 2026, SLB announced an agreement to acquire Kelvion for approximately $3.4 billion in cash, strengthening its Data Center Solutions capabilities in the rapidly expanding AI infrastructure market.
- Energy-Intensive data centers require advanced cooling solutions to maintain efficiency and performance as customers seek partners to scale capacity faster, driving SLB's acquisition strategy in this growing market.
- SLB will assume approximately $0.7 billion of debt and expects approximately $120 million in annual EBITDA synergies within three years, while combined 2026 data center revenue is projected to exceed $2 billion.
- "Thermal management is central to that challenge," said Gavin Rennick, president of SLB's New Energy and Industrial business, noting the acquisition embeds cooling into modular infrastructure to improve system efficiency.
- By 2028, SLB targets revenue of $4.5 billion to $5 billion and adjusted EBITDA of $700 million to $800 million for its combined Data Center Solutions business, reinforcing long-term growth ambitions.
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SLB acquired the thermal management company Kelvion from private equity funds for US$4.1 billion. Exclusive content for subscribers. For full access, follow the link to the article and register.
Apollo Funds Agree to Sell Kelvion, a Global Leader in Cooling Solutions for Data Centers and Diversified Industrials, to SLB for $4.1 billion
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…
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Business WireSLB to Acquire Kelvion, Expanding its Role Across Data Center Infrastructure
Scalable, energy-efficient and reliable thermal management technologies will optimize operating performance in increasingly complex data centers and industrial systems
(Teleborsa) - SLB, which was formerly called Schlumberger and is the world's largest supplier of oil field services, has signed a $3.4 billion agreement for the acquisition of Kelvion,...
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