TPG’s middle market and growth equity platform is acquiring Irth Solutions from Blackstone Energy Transition Partners.
TPG Growth is investing an unspecified sum to acquire the provider of software for critical energy and infrastructure companies.
Founded in 1985, Irth provides cloud-based software solutions for infrastructure operators, using geospatial data, business intelligence and AI to protect critical assets and ensure the reliable delivery of services.
Brad Gammons, CEO of Irth, said: “With TPG’s support and extensive software, AI, and infrastructure expertise, we are confident they are the right partner to support our next chapter. This partnership strengthens our ability to deliver even greater value to the energy, utility, and telecommunications providers we serve.
“We look forward to building on the success we achieved with Blackstone and working with TPG to accelerate innovation to help our customers strengthen resilience, improve reliability, and navigate the rapidly evolving risks they face each day.”
Bilal Khan, senior managing director, and Alex Lue, managing director, at Blackstone, said: “We have been proud to partner with Brad and the entire Irth team since 2021, supporting its continued growth as it serves the ever increasing need for investment, resiliency and digitalisation of critical energy and infrastructure assets.”
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