KKR Sells CoolIT Systems to Ecolab for $4.75 Billion
KKR (KKR) announced that it has entered into a definitive agreement to sell CoolIT Systems to Ecolab (ECL) in a transaction valued at $4.75B. The sale will represent one of KKR's largest recent realizations, generating approximately 15x the original equity invested, inclusive of distributions. At the close of the transaction, all CoolIT employees will receive a substantial cash payout on their ownership in the Company. Mubadala Investment Company also served as a co-investor in CoolIT. KKR acquired CoolIT in 2023 through its Global Impact Fund II, which helps scale innovative commercial solutions to global challenges. In 2025, CoolIT's solutions delivered an estimated 2.18 billion kWh in energy savings, enough to power approximately 200,000 homes for one year. Following the close of the transaction, CoolIT's leadership team, led by CEO Jason Waxman, is expected to remain in place and continue to run the business under the CoolIT name. The transaction, which is subject to customary regulatory approvals, is expected to close in Q3 2026.
