SLB to Acquire Kelvion from Apollo for $4.1 Billion
Schlumberger (NYSE: SLB) has agreed to acquire thermal management and heat exchange technologies company Kelvion from private equity firm Apollo Global Management (APO). The deal is valued at approximately $4.1 billion in cash, including the assumption of about $700 million in debt. This acquisition marks a strategic move for Schlumberger as it looks to expand into data center infrastructure through Kelvion's expertise. Kelvion operates globally and offers critical thermal management solutions used across various industries, including energy, industrial manufacturing, and now increasingly in the growing data center sector. The transaction is expected to strengthen Schlumberger’s position beyond traditional oilfield services by diversifying its portfolio into high-growth technology areas.
