Ecolab acquires KKR-backed CoolIT Systems for $4.75B to supply liquid cooling for AI data centers

Ecolab, a water and hygiene solutions company, agreed to acquire CoolIT Systems, a liquid cooling hardware manufacturer whose customers include Nvidia and AMD, from KKR for $4.75B in cash. Ecolab said it expects CoolIT's hardware and thermal engineering to complement its existing strengths in water, chemistry, and digital monitoring, positioning it as a more complete provider of cooling and fluid management for hyperscale and colocation data center operators. CoolIT is projected to generate roughly $550M in sales over the next 12 months, and the deal is expected to close in Q3 2026 and be accretive to Ecolab's adjusted earnings per share by 2028.