AI Infrastructure Partners Acquires TGM Incorporated

AI Infrastructure Partnership (AIP) Consortium Acquires Aligned Data Centers in ~$40B Deal

October 15, 2025

Infrastructure

The Artificial Intelligence Infrastructure Partnership (AIP), together with MGX and BlackRock’s Global Infrastructure Partners (GIP), will acquire 100% of Aligned Data Centers from private infrastructure funds managed by Macquarie Asset Management and co-invest partners. The consortium expects the transaction to fuel expansion of next-generation cloud and AI infrastructure, implying an enterprise value of approximately $40 billion, with closing expected in the first half of 2026 subject to approvals.

Allied Industrial Partners Makes Majority Recapitalization of Mat Tech Industrial Services

June 1, 2023

Industrial Services

Allied Industrial Partners (AIP) completed a majority recapitalization investment in Mat Tech Industrial Services, a Houston-area provider of specialty rental equipment and industrial waste management services. Mat Tech’s founder and CEO Mike Tinnin will remain in leadership as AIP plans to support the company’s buy-and-build growth and organic expansion across downstream petrochemical and industrial end markets. Terms were not disclosed; GulfStar acted as Mat Tech’s financial advisor.

THL Partners Acquires Majority Stake in AMI

September 9, 2024

Software

THL Partners has agreed to acquire a majority stake in AMI from HGGC in a private transaction expected to close in fall/Q4 2024. AMI, headquartered in Duluth, Georgia, is a global leader in dynamic firmware used across data centers and cloud platforms and employs over 1,500 engineers; THL says the investment will accelerate product innovation and market expansion to address growing AI and hyperscale infrastructure demand.

Industrial Growth Partners Acquires AEM

September 13, 2021

Manufacturing

Industrial Growth Partners (IGP), in partnership with management and certain outside investors, acquired AEM (Holdings) Inc., AEM Group Limited and subsidiaries, creating a new platform investment to accelerate the company's growth. Founders Daniel and Cai Li Chang sold the company but retain a significant minority equity stake; Daniel Chang was named Chairman and Rick Busch was appointed CEO.

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.

Saothair Capital Partners Acquires AAI (to be Renamed Air Products and Controls)

October 14, 2025

Manufacturing

Saothair Capital Partners has completed the acquisition of AAI from Halma Holdings Inc.; following the transaction AAI will be renamed Air Products and Controls (APC). Headquartered in Auburn Hills, Michigan, AAI designs and manufactures fire and life-safety detection devices (wireless smoke, heat and CO detectors) sold to residential security OEMs, HVAC and fire-system OEMs, and commercial distributors.