Apollo Funds Completes Strategic Acquisition of Kelvion Solutions
Apollo Funds Acquires Kelvion, Enhancing Energy Solutions
Apollo Funds has recently announced that it will acquire a majority stake in Kelvion, a leading global provider of energy-efficient heat exchange and cooling solutions. This move comes as Apollo seeks to expand its influence in the industrial services sector.
About Kelvion and its Operations
Kelvion, originally founded in Germany, has a rich history of over a century providing thermal management solutions. Its product range is central to numerous industrial and high-growth markets, specializing in advanced cooling technologies for data centers, which stand as the company's fastest-growing segment. Additionally, Kelvion operates in crucial areas associated with energy transition, including carbon capture and hydrogen production, exemplifying its commitment to sustainable practices.
Global Footprint and Transformation
The company has established a significant global footprint, with operational sites throughout the Americas, EMEA, and APAC. After a rebranding efforts orchestrated by Triton in 2014, Kelvion has focused on adapting its portfolio to align with major global trends in High Tech and Green Tech. This transformation has enhanced its operational excellence and broadened its customer base worldwide.
Leadership Insights
Waleed Elgohary, an Apollo partner, expressed enthusiasm about the acquisition, highlighting the premier position Kelvion holds in the market for energy-efficient solutions. He noted that the company is exceptionally well-suited to leverage several large secular trends, including the ongoing AI and cloud revolution, as well as the energy transition. Apollo is excited to support Kelvion's growth during this pivotal phase in its journey.
Collaborative Future with Triton
Andy Blandford, the CEO of Kelvion, underscored gratitude toward Triton for their support throughout the years while expressing optimism towards the partnership with Apollo Funds. He stated that under Apollo's stewardship, Kelvion can expedite its growth trajectory while continuing to prioritize innovation and boosting its workforce. The collaboration promises to expand Kelvion’s reach and influence within competitive markets.
Financial Commitment and Future Expectations
Apollo-managed funds and associated entities have actively invested approximately $58 billion aimed at climate and energy transition-related projects, demonstrating their commitment to sustainability in various sectors. The completion of the acquisition is contingent upon several closing conditions, including regulatory approvals, with expectations for finalization set for a window between Q4 2025 and Q1 2026.
Financial Advisors
In this strategic move, Apollo Funds have engaged UBS AG, J.P. Morgan Securities plc, and Barclays Bank PLC as financial advisors, collaborating with Sidley Austin LLP as legal counsel. Meanwhile, Triton has relied on Guggenheim Securities, LLC and Morgan Stanley & Co. International plc as its financial advisors for this transaction.
About Apollo and Kelvion
Apollo is renowned as a high-growth global alternative asset manager. With over three decades of investment experience, the firm aims to provide exceptional returns for its clients while supporting innovative capital solutions that encourage growth in various sectors. As of mid-2025, Apollo holds $840 billion in assets under management. Kelvion, on the other hand, is celebrated for its innovative solutions in heat exchange and thermal management, serving industries such as data centers, marine, HVAC, and food production.
Contact Information
For more information regarding this acquisition, interested parties can reach out to:
Noah Gunn - Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com
Joanna Rose - Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com
Frequently Asked Questions
What does Apollo's acquisition of Kelvion mean for both companies?
This acquisition will allow Apollo to enhance its portfolio in energy-efficient solutions while providing Kelvion with the resources and expertise necessary for accelerated growth.
How has Kelvion transformed under Triton's ownership?
Under Triton, Kelvion has focused on innovation and strategic positioning in high-growth markets, allowing for significant portfolio transformation and expansion.
What future goals does Kelvion aim to achieve with Apollo?
Kelvion aims to focus on innovation, expand its workforce, and enhance its position as a leader in energy-efficient thermal solutions.
What industries benefit from Kelvion’s products?
Kelvion serves a wide array of industries including data centers, refrigeration, HVAC, and energy production sectors.
What is Apollo’s approach to investing?
Apollo seeks to provide excess returns while supporting infrastructure and clean energy companies through innovative capital solutions.
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