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Apollo Global Funds Acquire Trace3, Boosting Data Center Expansion
ByAinvest
Monday, Aug 11, 2025 6:00 pm ET1min read
Apollo Global Funds are set to acquire Trace3, a US-based IT services company. Apollo Global Management is also reportedly close to acquiring Kelvion, a German-based heat exchanger manufacturer, from Triton. Additionally, the company has priced $500 million in 5.150% senior notes due 2035.
Apollo Global Funds, a prominent alternative asset manager, has announced plans to acquire Trace3, a leading enterprise and commercial technology solutions provider. The acquisition is part of Apollo's strategic move to expand its IT services portfolio, targeting growth in the AI and digital transformation markets. Trace3, founded in 2002, serves numerous Fortune 500 clients and is positioned to capitalize on increasing demand for next-generation IT infrastructure and AI adoption [1].American Securities will retain a significant minority stake in Trace3. While financial terms were not disclosed, the deal aims to accelerate Trace3's growth through strategic M&A and expansion of high-value service offerings. Apollo's acquisition of Trace3 aligns with its demonstrated track record in the IT services sector, following previous investments in Presidio and TD SYNNEX [1].
In addition to the Trace3 acquisition, Apollo Global Management is reportedly close to acquiring Kelvion, a German-based heat exchanger manufacturer, from Triton. The Kelvion acquisition is part of Apollo's broader strategy to leverage automation, green energy, and reshoring trends in industrial manufacturing. This deal aligns with the $102.6 billion in U.S. semiconductor investments and the IRA/CHIPS Act-driven supply chain localization efforts [2].
Apollo has also priced $500 million in 5.150% senior notes due 2035. This funding round underscores Apollo's continued commitment to growth and expansion, particularly in the technology and industrial sectors.
References:
[1] https://www.stocktitan.net/news/APO/apollo-funds-reach-agreement-with-american-securities-to-acquire-x6t1ejlmm1e2.html
[2] https://www.ainvest.com/news/apollo-strategic-move-acquire-kelvion-catalyst-creation-industrial-manufacturing-2508/
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