KKR is to acquire CoolIT Systems, a provider of scalable liquid cooling solutions for demanding computing environments. The investment will support the CoolIT’s ability to scale and serve its global customers across the data centre market.
KKR is to acquire CoolIT Systems (CoolIT), a provider of scalable liquid cooling solutions for demanding computing environments. The investment will support the CoolIT’s ability to scale and serve its global customers across the data centre market.
CoolIT’s client-base includes the enterprise, high-performance computing, and cloud service provider segments, as well as in desktop computing.
CoolIT’s patented Split-Flow Direct Liquid Cooling technology is designed to improve equipment reliability and lifespan, decrease operating cost, lower energy demand and carbon emissions, reduce water consumption and allow for higher server density than legacy air-cooling methods.
As part of this transaction, CoolIT will expand its equity ownership programme to make all employees owners of the company. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 50,000 non-management employees across nearly 30 companies.
KKR is investing in CoolIT through its Global Impact strategy, which is focused on identifying and investing behind opportunities where financial performance and societal impact are intrinsically aligned. Specifically, the strategy focuses on investing in companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (“SDGs”). CoolIT directly supports SDG 7 (Affordable and Clean Energy), 9 (Industry, Innovation and Infrastructure) and 13 (Climate Action).
The transaction is expected to close in the second quarter of 2023, subject to regulatory approvals and customary closing conditions.
