Global Leader in Safety-Critical Ground Support Products

NEW YORK, March 12, 2026 /PRNewswire/ — KPS Capital Partners, LP (“KPS”) announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire a controlling interest in Jennmar and its affiliates (“Jennmar” or the “Company”).  Financial terms of the transaction were not disclosed.  Completion of the transaction is expected in the second quarter of 2026 and is subject to customary closing conditions and approvals.

Founded in 1922, Jennmar is a leading global provider of safety-critical products and essential services to the mining, civil infrastructure, solar and construction industries. Jennmar serves as an integral and trusted partner to its customers around the world and enables them to run their operations safely and efficiently.  The Company is headquartered in Pittsburgh, Pennsylvania, has approximately 4,000 employees and operates 59 manufacturing facilities across the globe.

Kyle Mumford, Partner of KPS, said, “Jennmar is a global market leader in ground support products with a proven track record of delivering best-in-class customer service and product quality.  We look forward to supporting the Jennmar leadership team with KPS’ decades of global manufacturing experience as well as our strategic support and capital to continue Jennmar’s tremendous growth both organically and through acquisition.  We are also pleased that existing owners, Tony Calandra and FalconPoint Partners, will continue as meaningful minority shareholders, affirming our shared view of the future growth and value creation potential of Jennmar.”

Tony Calandra, Chief Executive Officer of Jennmar, said, “I am exceptionally proud of the accomplishments of the Jennmar team – each year we consistently broaden our product offering, increase our service capabilities, and expand the geographies in which we can fully support our customers – all while continuing our best-in-class quality and delivery.  Jennmar is committed to continuing this trajectory and we identified KPS as the right partner to support and accelerate our growth.  Jennmar will benefit considerably from KPS’ manufacturing expertise and capital resources as we continue to invest heavily in innovating to meet our customers’ needs and expanding our addressable markets.”

Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel and Jefferies served as financial advisor to KPS and its affiliates. Lowenstein Sandler LLP served as legal counsel and Evercore and Rothschild & Co. served as financial advisors to Jennmar and FalconPoint.

About Jennmar

Jennmar is a leading global provider of infrastructure products and specialized services to the civil infrastructure, solar, mining, and construction industries.  For over 100 years, Jennmar’s focus has been on manufacturing products and providing solutions that help keep workers safe and productive.  For more information, please visit www.jennmar.com.

About FalconPoint Partners

FalconPoint is a private equity firm that invests in North American mid-market companies in the business services and industrial sectors. The firm leverages a network of relationships and a partnership-oriented approach to identify and execute on transformative growth opportunities at companies that provide mission-critical products and services. For more information, please visit www.falconpointpartners.com.

About KPS Capital Partners, LP

KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $19.5 billion of assets under management (as of September 30, 2025).  For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing.  KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage.  The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately $21.2 billion, operate 202 manufacturing facilities in 21 countries, and have approximately 55,000 employees, directly and through joint ventures worldwide (as of September 30, 2025).  The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

Pocket-size device supports up to 120B models locally with 0 token fees, without requiring cloud or high-end GPU

DOVER, Del., March 12, 2026 /PRNewswire/ — Tiiny AI Inc. (www.tiiny.ai), a U.S. AI Infra startup, today announced that its Tiiny AI Pocket Lab surpassed US$1 million in Kickstarter pledges within five hours of its March 11 launch.

Tiiny AI Pocket Lab is a pocket-size personal AI supercomputer that plugs into a laptop or PC and turns it into a local AI terminal. Built as a dedicated backend for always-on AI, it is designed to support up to 120B-parameter models locally without requiring internet, cloud services, separate servers, or a high-end GPU. It also offers one-click deployment, 0 token fees, and an always-on operating profile within a 65W power envelope.

The milestone signals early demand for what Tiiny AI calls “AgentBox” — a new class of dedicated local devices designed to run always-on AI models and agent workflows privately and persistently, including OpenClaw-based agents. It also reflects a broader shift from cloud-based AI toward edge-cloud synergy, where routine agent tasks run locally for privacy, reliability, and greater cost control, while the cloud is used selectively when needed.

In the first five hours, the campaign reached US$1,009,664 in pledges from 728 backers. The backer base was led by the United States (about 70% of backers, by backer count), followed by Germany and Canada, with additional backers from the United Kingdom and Spain, as of 3:00 pm EDT on March 11.

“We are in a broader shift from cloud-based AI to edge-cloud synergy, with a new hardware layer emerging: agent-native devices built to run always-on workflows locally,” said Samar Bhoj, GTM Director at Tiiny AI. “Our focus is to make that experience accessible with one-click deployment, local-first operation, 0 token fees, stronger privacy controls, and a practical edge-cloud synergy model that uses the cloud only when needed.”

Pricing and Availability

• Kickstarter campaign page: https://www.kickstarter.com/projects/tiinyai/tiiny-ai-pocket-lab
• Kickstarter super early-bird price: US$1,399
• Website-only deposit program: Tiiny AI offers a US$9.90 deposit on its website to lock in a US$1,299 price (US$100 lower than the super early-bird price).
• Estimated delivery: August 2026 (final schedule and regional availability detailed on Kickstarter)

AgentBox: A New Category Built for Always-On AI Workflows

As AI adoption accelerates, cloud-based AI is encountering friction for many everyday workflows: recurring usage costs, privacy and data-sovereignty concerns, reliability risks from network or cloud outages, and long-context capabilities. At the same time, agent frameworks are pushing AI beyond chat and into multi-step workflows, such as organizing files, building local knowledge bases, generating reports, and executing tasks over time.

Against this backdrop, Tiiny AI sees the emergence of “AgentBox” — a new class of compact local AI devices designed to support always-on agent workflows. Tiiny AI Pocket Lab is built to support up to 120B-parameter models locally, while offering privacy, reliability, and greater control as a persistent local AI engine that works alongside users’ existing devices.

This “AgentBox” is powered by Tiiny AI’s proprietary optimization technologies, including TurboSparse and PowerInfer, designed to improve throughput and efficiency for local inference on compact hardware.

The company offers a ready-to-use open-source ecosystem. Tiiny AI Pocket Lab supports one-click installation of more than 50 leading open-source models including OpenAI GPT-OSS, Llama, Qwen, GLM, Mistral, and Phi, and enables seamless deployment of over 100 popular open-source AI agents such as OpenClaw, OpenCode, Flowise, Presenton, Libra, Bella, and SillyTavern. Users receive continuous updates, including official OTA hardware upgrades.

To further strengthen ecosystem openness, Tiiny AI said the product will also support user-imported .gguf models from Hugging Face beyond the officially adapted mainstream models. The company plans to launch a corresponding model conversion tool in July 2026. SOTA open-source LLMs will receive priority support from Tiiny AI, while longer-tail models can be converted and imported by users based on their own needs. This is intended to make the product not only a local AI device, but also a more controllable local AI runtime environment with greater transparency and user oversight.

Built for Local-First Security and Control

As AI agents become more capable and more autonomous, security concerns are expanding beyond the model itself into broader areas such as permission management, behavior auditing, and execution control.

In response, Tiiny AI emphasizes three design principles: local-first operation, least privilege, and human-in-the-loop control. The company says sensitive workflows should remain locally processed whenever possible; agent access to tools, files, and APIs should be limited to only what is necessary for a given task; and human confirmation or audit mechanisms should remain in place for actions involving sensitive data, external systems, or critical operations.

According to Tiiny AI, this is part of what distinguishes AgentBox from a generic local AI setup and cloud-based AI: it is meant to provide a more transparent and controllable environment for running AI continuously in everyday workflows.

In December 2025, Tiiny AI Pocket Lab was verified by Guinness World Records under the category “The Smallest MiniPC (100B LLM Locally)”, recognizing its form factor and ability to run a 100B-parameter LLM locally.

Formed in 2024, the team brings together global engineers from MIT, Stanford, HKUST, SJTU, Intel, and Meta, with deep expertise in systems engineering, AI inference optimization, and hardware–software co-design. Their research has been published in premier academic conferences including SOSP, OSDI, ASPLOS, and EuroSys. In 2025, Tiiny AI secured a multi-million dollar seed round from leading global investors.

Headline specs (configuration dependent):

• Memory: 80GB LPDDR5X
• Storage: 1TB PCIe 4.0 SSD
• Performance: ~18–40 tokens/second (config dependent)
• Power: 30W TDP (65W adapter required); designed within a 65W power envelope
• Dimensions/weight: 142 × 80 × 22 mm; 300g
• Compatibility: macOS & Windows

(Note: performance figures are configuration dependent; Tiiny AI can provide test conditions upon request.)

Press kit:

• Photo: https://drive.google.com/drive/folders/1tKjR0GlV827FTm15Fso5lmimtgFZNy2x?usp=sharing
• Demo videos: https://drive.google.com/drive/folders/1B9s7veRCiedIIdFeec7YiN8i4_78fhnM?usp=drive_link
• Corporate video: https://drive.google.com/file/d/168GlrOr2iC1zVWmbjGFuQhf0htrqOa48/view?usp=sharing   

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About Tiiny AI Inc.

Tiiny AI Inc. is a U.S. AI Infra startup. The company’s mission is to make advanced AI personal, private, and accessible, bringing powerful model and agent workflows to local devices with simplified deployment and predictable costs. With its founding team formed in 2024 by engineers from MIT, Stanford, HKUST, SJTU, Intel, and Meta, the company develops breakthrough technologies such as TurboSparse and PowerInfer that enable up-to-120B LLMs to run on pocket-sized consumer devices for the first time. Tiiny AI’s mission is to make advanced AI accessible, private, and personal.

TAIPEI, March 12, 2026 /PRNewswire/ — E.SUN BANK has partnered with IBM (NYSE: IBM) Consulting to develop Taiwan’s first enterprise-grade AI governance framework for the financial sector, establishing new standards for responsible AI adoption in banking.

AI governance is not merely a compliance requirement—it is the prerequisite for sustainable innovation, says IBM.

The collaboration has produced a comprehensive governance architecture and an AI Governance White Paper specifically designed for financial-industry applications, marking a pivotal shift from experimental AI projects to secure, scalable enterprise deployment.

Setting a national benchmark
As Taiwan’s first bank to implement such a framework, E.SUN BANK is establishing industry-leading standards for AI risk management across the financial ecosystem. The initiative integrates globally recognized frameworks—including the EU AI Act and ISO/IEC 42001—adapted to meet the specific needs of financial institutions.

IBM Consulting worked with E.SUN BANK to design an end-to-end governance architecture that assesses current AI maturity while charting clear pathways for sustainable growth and regulatory compliance.

A lifecycle approach to AI governance
The framework is built on three core principles:

• Data science – Applying scientific indicators and quantitative methods
• Business-scenario specificity – Aligning governance with real-world use cases
• Risk-based management – Implementing proportionate controls across all AI applications

Rather than treating governance as a single checkpoint, the framework spans the entire AI lifecycle: development, training, validation, deployment, and continuous monitoring. This transforms fragmented compliance requirements into a unified, actionable governance approach.

From regulation to execution
E.SUN BANK and IBM Consulting developed a systematic methodology that bridges high-level regulatory guidance and practical implementation. The approach enables cross-functional teams—including business units, data scientists, cybersecurity professionals, and compliance officers—to execute governance through repeatable, measurable processes.

The AI Governance White Paper introduces 96 technical methods supporting regulatory compliance, monitoring, and oversight. These mechanisms provide objective, quantitative governance controls that enhance both accuracy and operational efficiency, positioning governance as a strategic enabler rather than a constraint.

Enabling scalable AI adoption
The framework establishes the foundation for enterprise-wide AI deployment at E.SUN BANK. With clear standards, repeatable processes, and an extensible architecture, the bank can introduce advanced capabilities over time, including automated review and testing mechanisms.

This infrastructure accelerates the safe, reliable deployment of AI solutions across the organization while maintaining rigorous oversight and control.

“AI governance is not merely a compliance requirement—it is the prerequisite for sustainable innovation,” said Han Lin, General Manager of Taiwan IBM Consulting. “This framework provides Taiwan’s financial institutions with a proven model for responsible AI adoption at scale.”

IBM Consulting and E.SUN BANK will continue advancing governance-driven innovation, supporting Taiwan’s financial sector as it harnesses AI to unlock business value while building a resilient, internationally competitive AI ecosystem.

About E.SUN BANK
https://www.esunbank.com/en/personal

About IBM Taiwan
https://taiwan.newsroom.ibm.com/

Media Contact
Kate Liu, IBM Corporate Affairs, kateliu@cn.ibm.com

IBM Corporation logo.

LONDON, March 12, 2026 /PRNewswire/ — Markel Insurance, the insurance operation within Markel Group Inc. (NYSE:MKL), today announced the appointment of Phil Jones as Chief Information Officer (CIO), International, effective immediately.

Phil Jones, Chief Information Officer, International

In his new role, Jones will define and deliver the technology vision for Markel International, ensuring the organisation’s systems, data and digital capabilities continue to evolve in line with its strategic focus on operational excellence. Working in close partnership with international leadership, Global Security Services and IT teams across Markel Group, he will focus on strengthening resilience, enhancing service quality and accelerating innovation across Markel’s international operations.

Jones will also champion closer collaboration between technology and business teams, supporting Markel’s ambition to unlock greater value from its data, modernise its technology foundations and empower teams across its five regional businesses through reliable, high‑performing systems. His appointment underscores Markel’s continued investment in exceptional leadership to support scalable growth and strengthen capabilities across its diverse international markets.

Jones will be based in London and report to Carys Lawton-Bryce, Chief Operations Officer at Markel International.

On the appointment, Lawton-Bryce commented: “As the evolving risk landscape and competitive market continues to exert pressure on operations, it is critical that our technology is world-class.

“I’m delighted to welcome Phil to Markel in this important new role. His leadership will be instrumental as we continue to enhance our operational performance and provide brokers and clients with best-in-class service – today and in the future. Phil’s extensive experience and deep expertise will help us take our technological capabilities to the next level across our international operations, and I look forward to working closely with him.”

Jones joins Markel with extensive CIO and executive technology leadership experience spanning specialty insurance, financial services and government. Most recently, he served as Global Chief Information Officer at Aspen Insurance, where he led IT strategy, cloud transformation, cyber‑defence initiatives and a global technology workforce, delivering significant performance, security and cost‑efficiency improvements. His previous roles include Executive Director of Service Delivery and Operations at the UK Ministry of Defence, overseeing mission‑critical global IT services, and senior technology leadership positions at Prudential UK, Lloyds Banking Group and ATOS Consulting.

About Markel Insurance
We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. 

MIAMI, March 12, 2026 /PRNewswire/ — FitTransformer, the modular smart fitness ecosystem redefining home and performance training, will make its debut at Wodapalooza, one of the world’s most celebrated functional fitness competitions. The brand will introduce athletes, coaches, and fitness enthusiasts to its flagship system, FitTransformer Titan, through live demonstrations, athlete challenges, and interactive experiences.

Held annually in Miami, Wodapalooza gathers thousands of elite competitors, gym owners, and fitness fans from around the globe. The event provides the perfect stage for FitTransformer to present its vision: a modular training system that transforms a single intelligent core into a complete home or studio gym.

One Core. Every Workout.

At the heart of the experience is FitTransformer Titan, a next-generation training machine designed to combine multiple training modalities—including strength training, ski-inspired cardio, and functional conditioning—into one compact system. Built for performance athletes as well as everyday users, Titan supports more than 150 exercises across strength, endurance, and hybrid training.

“Functional athletes are constantly looking for smarter ways to train,” said Sam, Founder at FitTransformer. “Wodapalooza brings together the most passionate community in fitness, and it’s the perfect place to demonstrate how FitTransformer can deliver a full-spectrum training experience from one modular system.”

Interactive Titan Challenge

Visitors to the FitTransformer booth will be invited to participate in the Titan Ski Challenge, a high-energy competition that tests speed, endurance, and power using Titan’s ski-inspired cardio mode. Participants can compete for top leaderboard positions while experiencing the machine’s dynamic resistance and full-body training capabilities firsthand.

The activation is designed to reflect the spirit of the competition floor while demonstrating how functional training movements can be recreated in any environment—from elite training facilities to modern home gyms.

Bridging Performance and Smart Fitness

FitTransformer’s presence at Wodapalooza highlights a broader shift in the fitness industry: the move toward intelligent, space-efficient training systems that combine multiple workout disciplines into one ecosystem.

By integrating strength training, cardio, and functional movement into a modular platform, FitTransformer aims to provide athletes and everyday users with a more versatile approach to training—one that adapts to different goals, spaces, and lifestyles.

Experience FitTransformer at Wodapalooza

Attendees are invited to visit the FitTransformer booth to:

• Experience live demonstrations of the Titan system
• Participate in the Titan Ski Challenge
• Meet the FitTransformer team and explore training possibilities
• Learn about exclusive event promotions and product launches

More information about FitTransformer and its modular smart fitness ecosystem can be found at:

www.fittransformer.com

About FitTransformer

FitTransformer is a modular smart fitness ecosystem designed to transform one intelligent core into a complete training system. Combining strength, cardio, and functional performance training, FitTransformer enables users to build powerful, space-efficient gyms for both home and professional environments.

The brand officially launched at CES 2026, where it received the TWICE Picks Awards and was highlighted by the The New York Times as one of the most innovative products showcased at CES 2026.

With its adaptable modular design and technology-driven training experience, FitTransformer is redefining how modern athletes and fitness enthusiasts train—delivering smarter, more versatile workouts through one integrated platform.

NEW YORK, March 12, 2026 /PRNewswire/ — Ridgewood Infrastructure (“Ridgewood”), an investor focused on essential infrastructure in the United States lower middle market, today announced the successful sale of APP Jet Center (“APP”), a fixed-base operator (“FBO”) platform providing critical aviation infrastructure services, to Bain Capital.

APP operates high-quality aviation facilities across major U.S. metropolitan markets, serving a diversified base of corporate, government, and private aviation customers. Ridgewood acquired a controlling interest in APP through a bilateral transaction and partnered with management to drive organic growth initiatives, expand hangar capacity, and complete a material add-on acquisition that increased the company’s presence in Florida — one of the most active private aviation markets in the United States.

“We are proud of the work accomplished alongside APP’s management team,” said Ryan Stewart, Partner at Ridgewood Infrastructure. “Our focus was on delivering consistent, high-quality service for APP’s customers while thoughtfully expanding the business. By strengthening leadership, enhancing operational discipline, and investing in additional capacity, we positioned APP as a scaled and strategic general aviation infrastructure platform.”

Ross Posner, Managing Partner at Ridgewood Infrastructure, added, “APP exemplifies our strategy in action. We identified a high-quality lower middle-market infrastructure business, partnered with management to scale and professionalize the platform, and ultimately positioned it for exit to an owner seeking a durable infrastructure business with continued growth potential. This transaction reflects the repeatability of our approach.”

Bain Capital intends to build upon APP’s established footprint and continue expanding in attractive aviation markets across the United States.

The transaction closed in March 2026. Financial terms were not disclosed.

King & Spalding served as legal advisor and Harris Williams served as financial advisor to Ridgewood Infrastructure.

About Ridgewood Infrastructure

Ridgewood Infrastructure invests in essential infrastructure businesses with areas of focus including transportation, water, utilities, and energy. The firm focuses on lower middle-market companies providing critical services with inelastic demand profiles and clear opportunities for operational enhancement and strategic growth.

Contact Information:
Ridgewood Infrastructure
527 Madison Avenue, 18th Floor
New York, NY 10022
Phone: (212) 867-0050
Email: Inquiries@RidgewoodInfrastructure.com

Logo – https://laotiantimes.com/wp-content/uploads/2026/03/ridgewood_logo-2.jpg 

WUXI, China, March 12, 2026 /PRNewswire/ — LabConnect, a leading provider of technology-driven central laboratory services and functional service provider solutions for clinical trials, today announced the grand opening of its new facility in Wuxi, China. As clinical trials become increasingly global and complex, sponsors are seeking laboratory partners that can provide integrated testing, logistics and data oversight across regions. Together with LabConnect’s laboratory capabilities in Australia, the new site strengthens the company’s ability to support multi-regional clinical trials while helping Asia-Pacific pharmaceutical, biotechnology and clinical research organizations expand their research programs globally.

Fully integrated into LabConnect’s global infrastructure, the Wuxi facility enables study teams to operate across regions with unified data, consistent operational oversight and advanced sample logistics and handling procedures.

The facility was developed in collaboration with Teddy Laboratory, now part of Frontage Laboratories, combining Teddy Laboratory’s local laboratory expertise with LabConnect’s global central laboratory services, logistics capabilities, and technology-driven decentralized network model.

“This facility reflects LabConnect’s continued investment in building the global services needed to support clinical trials today and the next generation of clinical research,” said Wes Wheeler, Chief Executive Officer of LabConnect. “We are proud to offer China-based capabilities and a global service network that supports both multinational pharmaceutical and biotechnology companies entering China and Chinese companies expanding into international markets.”

The Wuxi facility will support a range of clinical trial services, including custom kit building, advanced sample tracking and logistics, and biorepository services, all designed to meet international regulatory standards.

The grand opening event, held today at the facility in the Xinwu District of Wuxi, included a ceremonial ribbon cutting, guided laboratory tours and presentations highlighting LabConnect’s technology-driven approach to central laboratory services. Representatives from LabConnect, Teddy Laboratory, government officials, and members of the regional clinical research community attended the event.

With the addition of the Wuxi site, LabConnect now operates eight global locations, enabling sponsors and CROs to rely on a single partner for central laboratory services across studies of any size or geographic complexity.

About LabConnect
LabConnect is a global provider of technology-driven central laboratory services and functional service provider solutions for pharmaceutical, biotechnology and contract research organizations. The company connects laboratories, logistics, technology and scientific expertise through a decentralized laboratory network model to deliver integrated solutions for clinical trials worldwide. Learn more at www.labconnect.com.