KKR Acquires CoolIT Systems

KKR Makes Minority Investment in Sol Systems

July 22, 2021

Renewable Energy

KKR made a significant minority growth investment in Sol Systems to scale the renewable energy developer’s Impact + Infrastructure platform and fund the acquisition of shovel-ready solar and storage projects. The investment includes a strategic partnership in which KKR committed up to $1 billion to acquire ready-to-build projects and support Sol Systems’ development, asset management and community-focused renewable solutions.

Daikin Applied Acquires DDC Solutions from Thompson Street Capital Partners

August 19, 2025

Manufacturing

Daikin Applied, a subsidiary of Daikin Industries, has acquired DDC Solutions, a San Diego-based provider of high-density GPU cooling cabinets and cooling management software, from Thompson Street Capital Partners and Cequel III. Terms were not disclosed; DDC will operate as an independent subsidiary and the acquisition supports Daikin's expansion into data center and AI infrastructure cooling solutions.

Impact Climate Technologies Acquires Heat Transfer Systems of Georgia

January 15, 2026

HVAC & Mechanical

Impact Climate Technologies (ICT), an Ardian-backed HVAC holding company, has acquired Heat Transfer Systems of Georgia, an Alpharetta, Georgia-based provider of cooling towers, heat exchangers, boilers, water filtration and related HVAC equipment and services. The acquisition expands ICT’s presence in the Southeast and adds specialized thermal expertise to its platform; Heat Transfer Systems of Georgia will continue operating under its existing name and leadership.

Kinzie Capital Partners Acquires Arctic Industries

February 20, 2024

Manufacturing

Kinzie Capital Partners, a Chicago-based private equity firm, has acquired Arctic Industries, a national manufacturer and distributor of walk-in coolers, freezers and the CoolBot refrigeration controller. The transaction (completed in partnership with Arctic management) will support Arctic's nationwide expansion by leveraging its bi-coastal manufacturing footprint and product portfolio across foodservice, healthcare and industrial end markets. Brown Gibbons Lang served as financial advisor to selling owner Stoic Holdings; terms were not disclosed.

Quantum Lifecycle Partners Acquires DCR Systems Group Inc.

December 11, 2024

Environmental Services

Quantum Lifecycle Partners has acquired DCR Systems Group Inc., an IT asset management and disposition provider based in Richmond Hill, Ontario. The deal expands Quantum's end-to-end electronics lifecycle services — including deployment, rental, repair, asset disposition and recycling — and increases the combined company's Canadian footprint and capabilities.

Trane Technologies Acquires Stellar Energy Americas

February 18, 2026

HVAC & Mechanical

Trane Technologies has completed the acquisition of Stellar Energy Americas, a provider of turnkey and modular data center cooling solutions. The purchase strengthens Trane's data center thermal management capabilities and accelerates deployment of prefabricated, scalable cooling systems to meet growing demand in the data center market.