Investment giant KKR is reportedly looking to offload data center cooling provider CoolIT.

The Financial Times reports the private equity firm is working with advisers on a sale ‌of liquid cooling company CoolIT Systems on a deal potentially exceeding $3 billion.

Multiple buyers have reportedly been earmarked as potential bidders.

The process is in the early stages and there are no guarantees of a sale, according to reports.

The companies involved declined to comment.

Founded in 2001, CoolIT designs, engineers, and manufactures advanced liquid cooling solutions for the data center and desktop markets, including its split-flow direct liquid cooling technology

KKR acquired the firm in 2023 for an undisclosed amount.

CoolIT had previously raised around $10 million over four funding rounds. Previous investors include the Business Development Bank of Canada, nVent, Kline Hill Partners, Vistara Capital Partners, Inovia Partners, AVAC Group, and Chart Venture Partners.