Do they also own XOJet?

They do.

I suppose they missed their old Hawkers.

Yup, confirmed on our end as well.

Will this change anything in regards to company operations from the pilots perspective? Hiring mins, QOL, etc..?

TMC has an ad on the orange site for 400/800 fos today

TPG says "more investment" into TMC. Is that code for more large cabin aircraft? I suppose a merger with XOJet is a distinct possibility too.

Why would they merge a non-union pilot group with a unionized one? Another question: Why would TPG purchase a second charter company?

XOJet has a: quality fleet, better image and branding, better reputation and a non-union pilot group (not judging union vs. non-union here - just stating facts from a hedge fund manager's perspective)

TMC has: A unionized pilot group, some (14?) new from the factory Beechjets, a few Hawker 850's, a ton of clapped out Honeywell 800XP's, a very good charter client book and probably the most ghetto, unprofessional looking headquarters in the business. To be fair, the strategic location in the Elkhart/Goshen metroplex is a definite plus in such a competitive, image conscious business.

What is XOJet missing? A selection of mid and small cabin jets where they don't need to pony up to marketing "partners."

Things that make you say, "Hmmmm." Curious where all of this stands in 12 months. How did TPG ownership work out for Midwest Airlines?

One word: SYNERGY

SYNERGY noted.

Another question: Is the sum of the "combined" components greater than dismantling the lesser, taking/moving what has value to the "better of the two", while that of little or no value is simply discarded?

Let's talk in 12 months.