6 Trillion Won Liquid Cooling Acquisition Deal Targets AI Data Centers

Ecolab Inc. (NYSE: ECL) has agreed to acquire CoolIT Systems, a leading provider of liquid-cooling technology for AI data centers, for approximately $4.75 billion in cash (around KRW 6 trillion). With this deal, Ecolab plans to expand its high-tech data-center cooling business and deepen relationships with hyperscalers and semiconductor companies to build an integrated fluid-management and cooling platform for next-generation AI facilities. The company expects CoolIT to generate roughly $550 million in revenue over the next 12 months.

The acquisition will be financed through new debt, which is projected to raise Ecolab’s net-debt-to-adjusted-EBITDA ratio to about 3x immediately after closing, with a target of reducing it to approximately 2x within two years. Subject to regulatory approvals and customary closing conditions, the transaction is expected to close in the third quarter of 2026. Excluding CoolIT’s results, Ecolab reaffirmed its adjusted diluted EPS guidance of $1.69–$1.71 for Q1 2026 and $8.43–$8.63 for the full year.

On February 10, Ecolab reported adjusted diluted EPS of $2.08 for Q4 2025, a 15% year-over-year increase, and reiterated full-year 2026 adjusted EPS guidance of $8.43–$8.63. At the same time, the company said it would expand its “One Ecolab” initiative to drive structural efficiencies, reflecting $334 million in restructuring charges and $91 million in special charges by the end of 2027.

Headquartered in Saint Paul, Minnesota, Ecolab provides industrial water-treatment, hygiene, and infection-prevention solutions—including chemicals, services, and data-driven offerings—to commercial and industrial customers worldwide. As AI workloads surge, large data centers face rising power consumption and heat output, accelerating the shift from air to liquid cooling. Global players in water treatment, chemicals, and equipment are increasingly investing in the fast-growing liquid-cooling market as a key future growth driver.