Ecolab is nearing a deal to acquire CoolIT Systems from KKR. The transaction price ranges between $4.5 billion and $5 billion. An official announcement could arrive as early as next week.
The acquisition expands Ecolab’s presence in data center infrastructure. Demand for cooling technology is surging due to the artificial intelligence boom.
KKR acquired a majority stake in CoolIT in 2023 at a $270 million valuation.