Mergers & Acquisitions ·
SLB Limited announced on August 31, 2026, that it has signed an agreement to acquire Kelvion, a global provider of…
SLBSlb Limited
SLB Limited announced on August 31, 2026, that it has signed an agreement to acquire Kelvion, a global provider of thermal management and heat exchange technologies, from Apollo-managed funds and Triton for approximately $3.4 billion in cash plus the assumption of roughly $0.7 billion in debt. The transaction values Kelvion at approximately 11 times estimated 2026 EBITDA before synergies or 8.5 times including expected annual run-rate synergies, with SLB targeting $120 million in annual EBITDA synergies within three years. Kelvion is projected to generate 2026 revenue of $2.3 billion to $2.4 billion and adjusted EBITDA of $350 million to $400 million. The deal, expected to close in the first half of 2027 subject to regulatory approvals, aims to expand SLB's Data Center Solutions business by adding critical cooling technologies to its modular infrastructure offerings. SLB Limited is a global energy technology company that provides equipment and services for oil and gas exploration, production, and processing.