Kelvion's acquisition by Apollo aims to address challenges in data center cooling and seize opportunities from the energy transition.
Kelvion's Future-Focused Growth: Apollo Acquires Majority Stake
Kelvion, a Germany-based energy-efficient thermal management solutions provider founded in 1920, is set for a significant change with Apollo Funds acquiring a majority stake from Triton [1][3][4][5]. This acquisition, expected to close between Q4 2025 and Q1 2026, underscores Kelvion's strategic positioning addressing key secular megatrends such as AI and cloud computing, energy transition, and reindustrialization [1].
In recent years, Kelvion has reoriented its business towards high-tech and green technology markets. The company's focus now includes advanced cooling technologies for data centers (its largest and fastest-growing segment) and providing critical solutions to several energy transition sectors such as carbon capture, hydrogen production, electrification, renewables, and heat pumps [1][3][4].
This strategic shift aligns Kelvion with global priorities in sustainability and decarbonization, complementing the energy transition megatrend. The company's extensive global footprint across the Americas, EMEA, and APAC supports its role as a key enabler in the reindustrialization trend by delivering reliable and sustainable thermal management solutions worldwide [1][3][4].
A notable recent development reflecting the AI and cloud revolution was Kelvion securing a $40M+ order in 2025 to deliver a scalable cooling solution for a major 200 MW AI data center in the USA [2]. This project exemplifies Kelvion's tailored, technically advanced solutions built to meet the growing thermal management demands of expanding data center capacities driven by AI growth [2].
With Apollo’s investment and Triton retaining a minority interest, Kelvion is positioned for further growth and innovation in these future-oriented markets [1][3][5]. Waleed Elgohary, a Partner at Apollo, made a statement regarding the acquisition, expressing excitement about Kelvion's delivery of cutting-edge solutions across high-growth markets that matter most for the future of industry and the planet [6].
In summary, Kelvion is leveraging its century-old expertise and recent strategic shifts to address high-growth secular megatrends by:
- Expanding advanced thermal solutions for AI-driven data centers and cloud infrastructure
- Enabling green energy technologies vital to the energy transition (carbon capture, hydrogen, heat pumps)
- Supporting reindustrialization with global presence and sustainable cooling technologies
Apollo’s acquisition signals confidence in Kelvion’s future outlook as a leader in energy efficient thermal management aligned with transformative global megatrends [1][3][4].
[1] Apollo Funds to Acquire Majority Stake in Kelvion [2] Kelvion Secures Major Order for AI Data Center Cooling Solution [3] Kelvion's Strategic Shift Towards High-Tech and Green Tech Sectors [4] Kelvion's Global Footprint and Leading Customer Base [5] Triton to Maintain Minority Interest in Kelvion [6] Apollo's Statement on the Acquisition of Kelvion
- The acquisition of Kelvion by Apollo Funds underscores the company's commitment to the energy transition, as it positions Kelvion to deliver cutting-edge solutions for the environmental-science sector, focusing on promoting green energy technologies like carbon capture, hydrogen production, and heat pumps.
- Kelvion's ongoing growth and innovation, facilitated by Apollo's investment, are driven not only by the demands of AI-driven data centers and cloud computing but also by science and technology advancements in the realm of energy transition, furthering its role as a key player in the sustainable reindustrialization trend.
