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M&A Deal Summary

TPG Acquires IRTH Solutions

On August 26, 2025, private equity firm TPG acquired software company IRTH Solutions from The Blackstone Group

Acquisition Highlights
  • This is TPG’s 37th transaction in the Software sector.
  • This is TPG’s 293rd transaction in the United States.
  • This is TPG’s 4th transaction in Ohio.

M&A Deal Summary
Date 2025-08-26
Target IRTH Solutions
Sector Software
Buyer(s) TPG
Sellers(s) The Blackstone Group
Deal Type Secondary Buyout
Advisor(s) Evercore Group
Lazard (Financial)
Kirkland & Ellis (Legal)

Target

IRTH Solutions

Columbus, Ohio, United States
IRTH Solutions is a provider of software and services to the underground utility damage prevention industry. Irth's customers include blue-chip utilities, telcos, pipeline operators and municipalities. Irth's software enables its customers to receive underground construction activity notifications from One Call Centers electronically via irth’s software, replacing traditional fax and email delivery methods with electronic screen notifications efficiently and accurately using geographic information systems (GIS) to streamline the customer's ticket management process. IRTH Solutions was founded in 1985 and is based in Columbus, Ohio.

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Buyer(S) 1

Buyer

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.

DEAL STATS #
Overall 445 of 451
Sector: Software M&A 37 of 40
Type: Secondary Buyout M&A Deals 75 of 75
State: Ohio M&A 4 of 4
Country: United States M&A 293 of 298
Year: 2025 M&A 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-05 Elite

New York, New York, United States

Elite is a provider of integrated practice and financial management systems for professional service firms worldwide. It provides billing systems for the legal industry to deliver a variety of products and consulting services to other professional service markets, including accounting, engineering, marketing and management and IT consulting. Elite is based in New York, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-04 Samhwa

Gyeonggi-do, South Korea

Samhwa is a cosmetic packaging supplier, providing comprehensive packaging solutions for the high-end cosmetics industry. Samhwa was founded in 1977 and is based in Gyeonggi-do, South Korea.

Sell $528M

Seller(S) 1

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 189 of 193
Sector: Software M&A 10 of 10
Type: Secondary Buyout M&A Deals 26 of 28
State: Ohio M&A 4 of 4
Country: United States M&A 115 of 117
Year: 2025 M&A 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-21 Shermco Industries

Irving, Texas, United States

Shermco Industries is a provider of electrical testing, maintenance, commissioning, and repair services to a wide range of utility, industrial, energy, and other end markets across North America. The Company is an active participant in the InterNational Electrical Testing Association, Electrical Apparatus Service Association, and American Wind Energy Association. Shermco Industries was founded in 1974 and is based in Irving, Texas.

Buy $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-08-28 Walker Edison

West Jordan, Utah, United States

Walker Edison is a provider of innovative, affordable home furnishings to global e-commerce platforms. global e-commerce platforms to provide innovative home furnishings at affordable prices. Walker Edison was founded in 2006 and is based in West Jordan, Utah.

Sell -
Mergr

Solution for

Product

Company

Legal