Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, MO, announced today that the firm, along with Cequel III, has completed the sale of DDC Solutions, a leading data center technology provider of high-density GPU cooling solutions and software, to Daikin Applied, a subsidiary of Daikin Industries, the world’s largest manufacturer of HVAC equipment headquartered in Japan. Terms of the transaction were not disclosed.
“In partnering with DDC, we saw a compelling opportunity to help shape a leading platform in the fast-growing AI infrastructure market,” said Jim Cooper, Founder and Chairman of TSCP. “The company’s impressive growth and technological advancement are a testament to its exceptional leadership team. With Daikin’s global reach and commitment to innovation, DDC is well-positioned to continue delivering mission-critical GPU cooling solutions to customers around the world.”
“DDC’s progress over the past 18 months has been remarkable,” said Tom St. Geme, Director at TSCP. “In a short period of time, the company has delivered GPU cooling at scale for top-tier AI customers, launched innovative new products, expanded capacity, and built a high-performing commercial team. Daikin is an outstanding strategic partner to support DDC’s next phase of growth, and we’re excited for what lies ahead.”
Daikin’s acquisition supports its strategy to expand smart and sustainable cooling solutions further into the fast-growing data center sector. DDC will continue to operate as an independent subsidiary from its headquarters in San Diego, California, while gaining access to Daikin’s global resources, R&D capabilities, and commercial footprint.Lincoln International served as the exclusive financial advisor to TSCP and Cequel III, and Seyfarth Shaw provided legal counsel in connection with the transaction.
