Madison River Capital has acquired JDC Power Systems, an electrical systems integrator exclusively serving the data center market.
JDC specializes in providing medium and low voltage electrical distribution equipment and custom control systems, primarily to data centers across North America. The company’s power and control products are sourced from major manufacturers including Siemens, Hitachi ABB, and Wonderware.
JDC’s services include system design and engineering, equipment procurement and installation, start-up, commissioning and warranty. JDC was founded in 2000 and is headquartered near White Plains in Armonk, New York.
“We are delighted to collaborate with Madison River Capital, whose investment acumen and operational expertise will be instrumental in supporting JDC’s growth trajectory,” said Joe Mastromonaco and Richard Corbin, co-founders of JDC, in a released statement. “We look forward to leveraging MRC’s capabilities to better serve our customers and capitalize on the immense growth opportunities in the data center market.”
“We were drawn to JDC because of its impressive track record of delivering highly technical solutions and innovative products that provide significant competitive advantages in the growing data center industry,” said David Wittels, the managing partner and president of MRC.
The buy of JDC is the second platform investment for MRC and follows the January 2024 acquisition of Senior Care Therapy, a New Jersey-headquartered provider of patient-centered psychology and mental health services to elderly patients in sub-acute, long-term care, and assisted living communities.
Madison River Capital invests in lower middle market companies that have less than $20 million of EBITDA and are active in the healthcare services, industrial, and business services sectors. The firm was formed through the January 2023 spin out of the corporate private equity investment team of Jefferson River Capital, the family office of Tony James, the former president and executive vice chairman of Blackstone.
Today, New York City-headquartered MRC is staffed by 12 investment professionals and operating executives and is raising its inaugural fund with a target of $400 million. The new fund is expected to close this year with more than half the total already raised.
Carl Marks Securities was the financial advisor to JDC Power Systems on this transaction.
© 2024 Private Equity Professional | July 12, 2024
