Ecolab has completed the acquisition of CoolIT Systems, a pure-play data center liquid cooling company focused on hyperscale and colocation operators and advanced AI workloads. The deal closed at approximately US$4.75 billion in cash at closing. CoolIT is expected to generate roughly $550 million (about C$760 million) in sales over the next 12 months. The acquisition will significantly expand Ecolab’s Global High-Tech market opportunity from $5 billion to $10 billion, is expected to accelerate Global Water’s organic sales growth by 2 percentage points and Ecolab’s total organic sales growth by 1 point, and should be accretive to adjusted diluted EPS (excluding non-cash amortization) beginning in 2028. Citi is serving as exclusive financial advisor to Ecolab, and Covington & Burling LLP is acting as legal counsel.