CoolIT Systems Inc. Asset Profile

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Year established

2001

Location

Calgary AB Canada

Primary Industry

Hardware

About

Based in Alberta, Canada and founded in 2001, CoolIT Systems, Inc. operates as a designer and distributor of next-generation cooling products for desktop and data centers systems. Steve Walton is the CEO of the company. In March 2021, CoolIT Systems Inc. received an undisclosed amount of growth funding co-led by BDC Capital and nVent Management Company. CoolIT Systems offers passive coldplates, coolant distribution units (CDU), rack and chassis manifolds, rear door heat exchangers (RDHx), and secondary fluid networks (SFN) to support the server, data center environment, and rack configuration to enhance the performance of server technology. In addition, the company provides technologies, such as direct liquid cooling (DLC), patented split-flow coldplates, centralized pumping, adaptable barb mounting, command2 control and system, and quick disconnects (QDs). The company also offers multiple services including deployment, a network of approved service providers, and training to the customers. CoolIT Systems generated USD 94 million in revenue in 2020. In September 2021, the company reported 43% YTD revenue growth in HPC markets as they continue investing in key technologies and customers. As of September 2021, the company has experienced an organic five-year CAGR of 51%. CoolIT Systems plans to use its proceeds from March 2021 to focus on technology development, manufacturing facilities and testing infrastructure. In addition, the company plans to expand its investment in new and emerging technologies both through internal development programs and through acquisition.

Current Investors

Vistara Growth, Inovia Capital, Chart Venture Partners

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Primary Industry

Hardware

Sub Industries

Computer & Related Peripherals, Storage, IT Infrastructure

Website

www.coolitsystems.com

Verticals

Manufacturing

Company Stage

Mature

Total Amount Raised

Subscriber access only

Deals

Deals Type
Secondary Buyout

Deal Status	Target (s)	Deal Date	Investor(s)	Seller(s)	Deal size (Mn)	Enterprise value (Mn)	Post-money valuation (Mn)	EBITDA multiple (x)	Revenue multiple (x)	Lead partner (s)
Completed	CoolIT Systems Inc.	01 May 2023

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