M&A — The Exchange

All General The Lab At Work E-comm Exchange

1 STORIES

AI capital and compute crossing borders — worldwide, closest on the Gulf and North America

Where

Gulf North America Elsewhere

What

Capital Infrastructure Policy M&A

The Exchange

AI capital and compute crossing borders — worldwide, closest on the Gulf and North America

Rows of closely spaced parallel metal cooling fins on large industrial thermal equipment

M&A

SLB agrees to buy a German heat-management firm for $4.1bn

SLB has signed an agreement to acquire Kelvion, a German maker of industrial heat exchangers and data-centre cooling systems, from Apollo and Triton funds for $3.4bn in cash plus $0.7bn in assumed debt. It is signed, not closed; regulatory approvals are still outstanding.

Chandni Melwani

US · Aug 31, 2026

The Exchange

SLB agrees to buy a German heat-management firm for $4.1bn

Every part of AI that's moving, in your inbox before the market opens.