We use gauge/gravity duality to study the thermodynamics of a generic almost conformal theory, specified by its beta function. Three different phases are identified, a high temperature phase of massless partons, an intermediate quasi-conformal phase
and a low temperature confining phase. The limit of a theory with infrared fixed point, in which the coupling does not run to infinity, is also studied. The transitions between the phases are of first order or continuous, depending on the parameters of the beta function. The results presented follow from gauge/gravity duality; no specific boundary theory is assumed, only its beta function.
