The investment will support CoolIT’s ability to scale and serve its global customers across the data center 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 center 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.
“Our business has evolved tremendously over the past few years and today we are proud to be one of the most trusted providers of liquid cooling solutions to the global data center market,” said Steve Walton, Chief Executive Officer of CoolIT.
“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.”
As part of this transaction, CoolIT will expand its equity ownership program to make all employees owners of the company. This strategy is based on the belief that employee engagement is a key driver in building stronger companies.
Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 50,000 non-management employees across nearly 30 companies.
According to Kyle Matter, Managing Director and Head of KKR’s Global Impact team in North America, the data center industry is expected to consume 8% of the world’s energy by 2030, which presents a challenge for sustainability.
KKR has committed over $17 billion to digital infrastructure since 2011 and recognizes the vital role it plays in our economy. However, they also acknowledge the environmental impact of the industry’s energy usage, which is expected to increase with the rise of AI and other high-performance applications.
KKR believes that liquid cooling can help reduce the emissions footprint of our digital economy, and they are excited to support CoolIT, a leader in this space.