• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
Calgary.Tech

Calgary.Tech

 
 
  • Home
  • News
  • Events
  • Interviews
  • Thought Leaders
  • Techtalent.ca
  • About Us
  • Contact Us

Calgary’s CoolIT Systems Acquired by KKR for $365 Million

May 3, 2023 by Robert Lewis Leave a Comment

Calgary’s CoolIT Systems has been acquired by global investment firm KKR for a reported $365 million.

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.

Filed Under: News Tagged With: CoolIT Systems, KKR

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

 
 

Stay Connected

  • LinkedIn
  • RSS
  • Twitter

Community Partners

Bulletin Board

Foresight 50 Returns to Spotlight Top Cleantech Ventures in Calgary

Foresight Canada is now accepting applications for … [Read More...] about Foresight 50 Returns to Spotlight Top Cleantech Ventures in Calgary

Energy Meets AI: Calgary Breakfast Gathers Leaders to Shape Alberta’s Digital Future

A select group of senior executives from Alberta’s … [Read More...] about Energy Meets AI: Calgary Breakfast Gathers Leaders to Shape Alberta’s Digital Future

WCD to Host Leadership Lunch in Calgary on AI-Driven Back-Office Innovation

Calgary business leaders are invited to a special … [Read More...] about WCD to Host Leadership Lunch in Calgary on AI-Driven Back-Office Innovation

XX Summit to Spotlight the Power of Women’s Capital in Calgary

On June 25, Calgary will play host to the XX … [Read More...] about XX Summit to Spotlight the Power of Women’s Capital in Calgary

Microsoft and Reporting Hub Bring AI-Powered Analytics to Calgary Event

Global tech leader Microsoft is partnering with … [Read More...] about Microsoft and Reporting Hub Bring AI-Powered Analytics to Calgary Event

Copyright © 2025 Incubate Ventures | Techtalent.ca · Techcouver.com · Decoder.ca · Fintech.ca · CleanEnergy.ca | Privacy