Apollo-managed funds have agreed to sell thermal management specialist Kelvion to energy technology group SLB for approximately $4.1bn, including $3.4bn in cash and the assumption of around $700m of debt.
The transaction will see SLB acquire 100% of Kelvion, with funds advised by Triton also selling their minority stake in the business. The deal is expected to close during the first half of 2027, subject to regulatory approvals and other customary conditions.
Apollo became the majority owner of...
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