TPG has acquired Irth Solutions from Blackstone
Irth
Founded in 1985, Irth Solutions provides cloud-based software solutions that integrate geospatial data with business intelligence and AI to offer 360-degree situational awareness for infrastructure operators, enabling proactive risk identification, mitigation and management. Irth’s mission-critical solutions protect the assets of some of the nation’s largest energy, utility and telecommunications providers, ensuring the safe and reliable delivery of essential services. Its platform serves more than 20,000 daily users, processing more than 130 million work orders and 500 million AI insights annually to detect emerging weaknesses and enable prompt resolutions and proactive interventions that keep critical network infrastructure operational. Further information is available at https://irthsolutions.com/.
The Deal
Lincoln International advised TPG Growth on the agreed acquisition of Irth, leveraging its prior transaction experience and deep expertise in the energy and critical infrastructure software industry.
“With TPG’s support and extensive software, AI and infrastructure expertise, we are confident they are the right partner to support our next chapter,” said Brad Gammons, CEO of Irth. “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.”
“Energy and utilities companies face constant pressure to deliver services safely, sustainably and without interruption for millions each day,” said Aaron Matto, Business Unit Partner at TPG. “Irth’s cloud-based, AI-enabled solutions have proved essential to energy and utility providers in navigating mounting risks by offering data and actionable insights to spot and resolve weaknesses before they escalate and to prevent damages before they occur. TPG has invested behind mission-critical, purpose-built software businesses for decades, and we are excited to partner with Brad and the team to support the continued growth of a company that keeps our infrastructure secure and the world connected.”
Our Perspective
Matt Kessler, Managing Director in Lincoln’s Technology Group, commented, “It was a privilege to work with TPG on this significant transaction in the utility and critical infrastructure software industry, along with our long-term client at Irth Solutions. We are excited to continue to help Irth build upon its market-leading platform in the sector.”
Blackstone
Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business, a leading energy investor with a successful long-term record, having committed more than $27 billion of equity globally across a broad range of sectors within the energy industry. Our investment philosophy is based on backing exceptional management teams with flexible capital to provide solutions that help energy companies grow and improve performance, thereby delivering cleaner, more reliable and affordable energy to meet the needs of the global community. In the process, we build stronger, larger scale enterprises, create jobs and generate lasting value for our investors, employees and all stakeholders. Further information is available at https://www.blackstone.com/our-businesses/blackstone-energy-transition-partners/.
TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $261 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate and market solutions, and our unique strategy is driven by collaboration, innovation and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams and communities. Further information is available at https://www.tpg.com/platforms/growth.
Lincoln’s deep knowledge in the utility software sector and strong understanding of Irth’s market and growth potential were instrumental in helping us complete this transaction.
Meet our Senior Team
I am inspired by working with entrepreneurs and innovators who feel passionately about what they are creating.
William Bowmer
Managing Director & Co-Head of Technology, U.S.
San Francisco
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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.