SLB Limited Announces Acquisition of Kelvion for ~$3.4B

What Happened

• On August 31, 2026, SLB Limited (SLB) announced it signed an agreement to acquire Kelvion, a global provider of thermal management and heat exchange technologies. The deal price is approximately $3.4 billion in cash, and SLB will assume about $0.7 billion of Kelvion debt. The seller is primarily Apollo-managed funds, with funds advised by Triton holding a minority interest. The announcement was made via a press release included in the Form 8-K filing under Regulation FD Disclosure (Item 7.01).

Key Details

• Transaction announced: August 31, 2026.
• Purchase price: ~ $3.4 billion in cash.
• Debt assumption: ~ $0.7 billion of Kelvion debt to be assumed by SLB.
• Sellers: Apollo-managed funds (majority) and funds advised by Triton (minority).

Why It Matters

• The acquisition brings thermal management and heat-exchange technologies into SLB’s portfolio, which could broaden the company’s product and service offerings.
• The cash payment ($3.4B) plus assumed debt ($0.7B) will affect SLB’s near-term capital deployment and balance sheet (cash outflow and higher assumed liabilities).
• The item was disclosed under Regulation FD via an 8-K press release, making the information public and material for investors to consider when evaluating SLB’s strategy and financial position.