KKR, a leading global investment firm, and CoolIT Systems, a leading provider of scalable liquid cooling solutions for the world’s most demanding computing environments, has announced the signing of a definitive agreement under which KKR will acquire CoolIT. The investment will support CoolIT’s ability to scale and serve its global customers across the data centre market, including the enterprise, high-performance computing and cloud service provider segments as well as in desktop computing.
Founded in 2001, CoolIT designs, engineers and manufactures advanced liquid cooling solutions for the data centre and desktop markets. 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.
“KKR shares our perspective on the significant opportunity ahead for liquid cooling. Having access to KKR’s expertise, capital and resources will put us in an even better position to keep scaling, innovating and delivering for our customers,” said Steve Walton, Chief Executive Officer of CoolIT.
Kyle Matter, Managing Director and Head of KKR’s Global Impact team in North America, added: “Increasing data and computing needs are on a collision course with sustainability considerations – the data centre industry is expected to consume 8% of the world’s energy by 2030. As a firm, we have committed more than US$17 billion to digital infrastructure since 2011 and deeply appreciate the mission-critical role that it plays in enabling our economy.”
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