The deal includes assuming $700 million in debt and is slated to close by mid-2027, pending regulatory clearance. Kelvion currently generates roughly half of its projected $2.4 billion annual revenue from data centers, providing heat exchangers and thermal systems that are essential for high-density computing environments. SLB estimates this integration will unlock $120 million in annual EBITDA synergies within three years.
SLB Pivots to AI Infrastructure with $3.4 Billion Kelvion Buyout
Energy giant SLB is pivoting toward the AI power boom with a $3.4 billion cash acquisition of German cooling specialist Kelvion. By absorbing the thermal management manufacturer, the oilfield services firm aims to capture a larger share of the infrastructure market required to keep massive data centers from overheating.
This move significantly upgrades SLB's existing data center portfolio, which has seen growth rates exceeding 90% annually since 2024. By 2028, the company projects its combined data center division will reach between $4.5 billion and $5 billion in revenue. This acquisition follows earlier efforts to diversify beyond oilfields, including a July partnership with Liberty Energy designed to merge modular infrastructure with onsite power generation capabilities.
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