Overview
- Ecolab agreed to buy Calgary‑based CoolIT in a $4.75 billion cash deal that Mubadala says is slated to close in the third quarter, pending approvals.
- About 650 CoolIT employees are receiving cash payouts that average roughly $240,000, reflecting ownership stakes created in the 2023 buyout.
- KKR bought CoolIT in 2023 for about $270 million and now expects roughly a 15x return on its equity from the sale.
- CoolIT builds liquid systems that draw heat off servers and the company says its approach can cut cooling energy use by 30% to 40% while reducing water use.
- Since 2023, CoolIT has expanded manufacturing to more than 91,000 square metres, increased coolant distribution capacity 25‑fold, and doubled its workforce as AI data‑centre buildouts accelerated, with coverage split between employee windfalls and Mubadala’s planned exit and sector strains.