New York-based investor KKR is exploring a potential sale of Canadian cooling specialist CoolIT Systems, according to the Financial Times. Advisors have been hired to assess buyer interest. Mubadala Investment Company holds a minority stake.
CoolIT designs liquid cooling systems for data centres, circulating low-temperature fluids to dissipate heat from servers increasingly strained by artificial intelligence workloads. The method is rapidly replacing traditional air cooling as facilities scale. A sale could command a premium over CoolIT’s reported US$270 million valuation when KKR acquired it in 2023.
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