SLB to Acquire Kelvion for $3.4B to Expand Data Center Solutions Business

SLB has signed an agreement to acquire Kelvion, a global provider of thermal management and heat exchange technologies, to strengthen its data center infrastructure business. The acquisition is aimed at capitalizing on the rapidly growing demand for AI infrastructure by integrating critical cooling technologies into SLB's offerings.

Key Details

• Acquisition Terms: SLB will acquire Kelvion for approximately $3.4 billion in cash and assume approximately $0.7 billion of debt, valuing the transaction at ~11x Kelvion's estimated 2026 adjusted EBITDA.
• Financial Impact: Kelvion is expected to generate $2.3-$2.4 billion in revenue in 2026. SLB anticipates the deal will be accretive to EPS and projects $120 million in annual EBITDA synergies within three years.
• Timeline & Outlook: The transaction is expected to close in the first half of 2027. SLB is targeting revenue of $4.5-$5.0 billion for its combined data center solutions business by 2028.