Cyril Amarchand Mangaldas advised Triton on the India leg of the sale of its shareholding in Kelvion Thermal Solutions Holding GmbH (“Kelvion”) and its identified (direct and indirect) subsidiaries (“Target Companies”)

Triton has sold its majority shareholding in the Target Companies to Apollo-managed funds. As part of the transaction, Triton also indirectly sold its shareholding in Kelvion India Private Limited (“Kelvion India”). Triton will maintain a minority interest in Kelvion.

The transaction team was led by Siddharth Vedula, Partner; with support from Bhavya Arya, Kanishka Iyer, and Naomi Manoj, Associates.

Bishen Jeswant, Partner; with assistance from Soumyashree Chowdhury, and Rohini Dayalan, Senior Associates; advised on employment aspects of the transaction.

About Cyril Amarchand Mangaldas:

Cyril Amarchand Mangaldas (CAM) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm’s generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With over 1100 lawyers including 220 Partners, the Firm is a full-service law firm with offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.

The Firm has been named “Law Firm of the Year 2025” and consistently recognised as “Best Overall Law Firm” by the IBLJ Indian Law Firm Awards. It received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive year in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm also won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.