David Brogdon and Partners Acquire Majority Stake in Systems Spray-Cooled

Spraying Systems Co. Acquires Cloud Company

February 8, 2023

Manufacturing

Spraying Systems Co. has acquired Cloud Company, a San Luis Obispo–based manufacturer of fluid-driven rotating spray washing devices for cleaning tanks and vessels. The deal expands Spraying Systems' branded tank-cleaning product lines and manufacturing capabilities to better serve a range of industrial end markets.

Thermal Technology Distribution Solutions (Gryphon Investors) Acquires Applied Thermal Systems

December 11, 2024

Industrial Services

Thermal Technology Distribution Solutions (TTDS), a Gryphon Investors–backed distribution platform, has acquired Applied Thermal Systems, a Minneapolis-area value-added distributor of electric heaters, controls, thermocouples and related engineering services. The add-on expands TTDS's footprint in the Upper Midwest and strengthens its product and technical capabilities; terms were not disclosed.

CoolSys Acquires Georgia Air Solutions

December 5, 2023

HVAC & Mechanical

CoolSys, a national provider of refrigeration, HVAC, energy, and engineering solutions, has acquired Georgia Air Solutions, a Jackson, Georgia-based commercial refrigeration and HVAC service provider. The acquisition expands CoolSys's market density and service offerings in Georgia, adding local installation, repair, and maintenance capabilities for grocery, retail, education, and commercial customers.

Dover Acquires SPS Cryogenics B.V. and Special Gas Systems B.V.

August 12, 2024

Manufacturing

Dover (through its OPW CES platform) has acquired SPS Cryogenics B.V. and its affiliated business Special Gas Systems B.V., both based in Heerhugowaard, the Netherlands. The acquisition expands OPW CES's cryogenic vacuum‑insulated piping and gas systems capabilities and strengthens Dover's European presence to support growing demand in clean energy and industrial gas markets.

Daikin Applied Acquires DDC Solutions from Thompson Street Capital Partners

August 19, 2025

Manufacturing

Daikin Applied, a subsidiary of Daikin Industries, has acquired DDC Solutions, a San Diego-based provider of high-density GPU cooling cabinets and cooling management software, from Thompson Street Capital Partners and Cequel III. Terms were not disclosed; DDC will operate as an independent subsidiary and the acquisition supports Daikin's expansion into data center and AI infrastructure cooling solutions.

BBH Capital Partners Invests in American Spraytech

January 19, 2021

Manufacturing

BBH Capital Partners completed a strategic growth investment in American Spraytech, partnering with the company’s management team and founding shareholders. American Spraytech, headquartered in Branchburg, New Jersey, is a turnkey contract manufacturer and formulator of aerosol and bag-on-valve (BOV) products serving personal care, cosmetic and OTC medical end markets; the capital will support organic and inorganic growth and capability expansion.