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KKR backs data centre cooling company

3rd May 2023

KKR has acquired a data centre cooling solutions provider.

The investment firm is buying CoolIT Systems, a manufacturer of liquid cooling solutions, for an undisclosed amount and will seek to scale up the business globally.

Much of the energy use in data centres comes from mechanical cooling to counter the heat generated by servers.

Kyle Matter, who leads KKR’s global impact team in North America, said digital infrastructure such as data centres was crucial to the economy but added: “We also recognise that as a society we are grappling with the enormous energy usage and related environmental impacts that are only expected to accelerate with the rise of AI and other high-performance applications.

“We believe that liquid cooling has a critical role to play in helping to reduce the emissions footprint of our digital economy and we are thrilled to back CoolIT, a leader in this space.”

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