Apollo Funds to Acquire Kelvion with Triton Retaining Minority Stake

Apollo Funds have announced the acquisition of a majority stake in Kelvion, a German-based provider of heat exchange and cooling solutions, from Triton. The deal, expected to close between Q4 2025 and Q1 2026, will see Triton retain a minority interest. Founded over a century ago, Kelvion specializes in thermal management and supports high-growth markets like data centers and clean energy.

Kelvion, rebranded by Triton in 2014, has shifted its focus towards megatrends in High Tech and Green Tech. Apollo's deep expertise in clean energy positions them as a strategic partner. Both Apollo and Triton express optimism about Kelvion's growth trajectory and its strategic alignment with global industrial needs.