Apollo has announced that Apollo-managed funds (Apollo Funds) have agreed to acquire a majority stake in Kelvion, a provider of energy efficient heat exchange and cooling solutions, from funds advised by Triton (Triton).
Kelvion is a premier provider of thermal management solutions across a broad spectrum of industrial and high-growth end markets. It also plays an enabling role in several key energy transition markets, including carbon capture, hydrogen, electrification, renewables, and heat pumps, delivering highly reliable and sustainable solutions to customers around the globe.
Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately USD 58bn of climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.
The transaction is expected to close between Q4 2025 and Q1 2026.