The Calgary-headquartered company’s 650 employees will receive a cash bonus once the deal closes, worth between one and eight years of their annual salary, seller KKR said. The New York-based private equity firm itself will make a return of 15 times of what it paid for CoolIT Systems in 2023. (The Logic)

Talking point: Employees’ payouts will reportedly range from $35,000 to $490,000, depending on wages and tenure. KKR said it introduced a staff ownership program when it took over CoolIT, like it’s done for other firms it’s acquired in recent years. The cooling-systems company is on track to end the year with twice as many employees and four times as much revenue as in 2023. That’s in large part thanks to the AI boom, which has driven demand for more and larger data centres filled with hardware that gets very hot.