Mubadala Investment Company has entered into a definitive agreement to sell its minority stake in CoolIT Systems to Ecolab in a transaction valued at $4.75 billion led by KKR.
The deal underscores the growing strategic importance of energy-efficient solutions in the global data center sector, particularly as AI-driven computing demand rises.
Mubadala initially invested in CoolIT in 2023 alongside KKR’s Global Impact Fund II. CoolIT, a 25-year pioneer in liquid cooling technology, designs systems that reduce energy and water consumption in data centers, enabling sustainable growth in hyperscale computing.
Traditional air-cooled facilities can spend up to 50 percent of energy on cooling, while liquid-cooled data centers reduce this by 30–40 percent and also minimize water usage through closed-loop systems. Today, more than 300 data centers worldwide deploy CoolIT’s technology to support higher-density AI infrastructure and improve operational efficiency.
Abdulla Mohamed Shadid Energy and Sustainability Head Private Equity at Mubadala
“When Mubadala invested in CoolIT three years ago, we had a strong conviction that liquid cooling would become a critical enabler of more sustainable digital infrastructure. Today, CoolIT has established itself as a leading global player in this technology, as the demand for energy‑efficient data‑center solutions accelerates with the rise of AI. Our successful partnership with KKR and the CoolIT management team is a testament to the value that can be created through active management and aligned ownership, and we are proud of what has been achieved together.”
Since 2023, CoolIT has expanded its manufacturing footprint to over 300,000 square feet, increased coolant distribution unit (CDU) capacity 25-fold, and doubled its workforce by adding more than 300 jobs.
Jason Waxman, CEO of CoolIT, said that, “The acquisition of CoolIT by Ecolab, an industry leader in water management, will be an outstanding outcome for our customers, employees, and shareholders alike. Our support and partnership with Mubadala helped to transform CoolIT into a world-class provider of liquid cooling solutions for hyperscale computing. Our commitment to building a strong business in the UAE will continue long after the acquisitions close.”
The deal comes amid rising data center energy and water demands. By 2030, data centers are expected to consume 945 TWh, surpassing the combined current electricity use of Germany and France, and over 450 million gallons of water per day.
In 2025, CoolIT’s solutions delivered around 2.18 billion kWh in energy savings, sufficient to power 200,000 homes for a year. The transaction, subject to customary regulatory approvals, is expected to close in Q3 2026.
