# Apollo Funds to acquire majority stake in Kelvion from Triton

Apollo-managed funds agreed to acquire a majority stake in Kelvion, a global provider of heat exchange and cooling solutions, from funds advised by Triton. Triton will retain a minority interest.

- Type: Acquisition
- Announced: 2025-08-13
- Where: Germany
- Value: $2.18B (2.00B EUR)
- Status: announced
- Products: heat exchange and cooling solutions, thermal management solutions
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Triton](https://endata.com/companies/1769.md) (partner)
- [Apollo Global Management](https://endata.com/companies/3851.md) (acquirer)
- [Kelvion](https://endata.com/companies/4941.md) (target)

## Sources

- [ir.apollo.com](https://ir.apollo.com/news-events/press-releases/detail/572/apollo-funds-to-acquire-kelvion-a-leading-global-provider), 2025-08-13: "Apollo Funds have agreed to acquire a majority stake in Kelvion, a leading global provider of energy efficient heat exchange and cooling solutions, from funds advised by Triton."
- [bloomberg.com](https://www.bloomberg.com/news/articles/2025-08-13/apollo-to-buy-cooling-equipment-maker-kelvion-in-2-billion-deal), 2025-08-13: "Apollo Global Management Inc. has agreed to acquire German cooling equipment maker Kelvion from buyout firm Triton."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.