Carl Marks Securities Advises on Successful $190 Million Recapitalization of JDC Power Systems with Madison River Capital
July 10 2024 - 7:30AM
Business Wire
Transaction Positions Leading Provider of Power
Systems to the Data Center Market for Continued Growth
Carl Marks Securities, an affiliate of middle market investment
bank Carl Marks Advisors, today announced that it has successfully
guided JDC Power Systems (“JDC” or “the Company”), an
industry-leading provider of mission critical power solutions to
the data center market, through a $190 million recapitalization of
the Company with private equity firm Madison River Capital.
JDC’s co-founders, Rick Corbin and Joe Mastromonaco, will
continue as significant owners of JDC as they guide the Company in
expanding its capabilities in the fast-growing data center market,
which has seen a rapid acceleration in recent years due to
advancements in artificial intelligence (AI) and machine
learning.
Headquartered in Armonk, New York, JDC specializes in
engineering, procurement, installation oversight, and technical
services, including start-up and warranty of mission-critical power
systems for data centers. The Company’s expertise in coordinating
with utility power grids minimizes the risks of redesigns, delays,
or system failures. Given the recent boom in AI, JDC occupies a
unique position in the data center marketplace and is
well-positioned for continued expansion.
“When we first engaged with JDC, little did we know that JDC’s
business would explode, driven by the rapid rise of artificial
intelligence and growing need for data centers,” said Warren H.
Feder, Partner at Carl Marks Advisors. “JDC’s twenty-four-year
history of providing quality service to its longstanding customers
and suppliers has allowed them to stand out from their competition
and attract top people and new customers in an increasingly
demanding market.”
“Carl Marks Securities led us through a very detailed and
competitive process. They gave us insights we had not previously
considered and showcased our business so potential partners could
fully understand our unique value proposition and opportunity for
growth,” said Rick Corbin, Co-President of JDC. “Their team was
with us every step of the way and guided us to the right partner.
We are excited about collaborating with Madison River Capital to
drive the business forward and capitalize on market tailwinds,”
remarked Joe Mastromonaco, Co-President of JDC.
About Carl Marks Securities Carl Marks Securities LLC,
the broker-dealer affiliate of Carl Marks Advisory Group LLC (Carl
Marks Advisors), provides financial advisory services to middle
market companies, including advice related to mergers,
acquisitions, company sales, private placement of debt and equity
capital and financial restructurings. Carl Marks Securities LLC is
a member of FINRA and SIPC. Additional information about Carl Marks
Securities LLC can be found at www.carlmarkssecurities.com.
About JDC Power Systems JDC Power Systems is an
electrical systems integrator specializing in mission-critical
power distribution and control solutions for data centers. Founded
in 2000 and based in Armonk, New York, JDC provides comprehensive
technical services including engineering, procurement, equipment
start-up and installation oversight, ensuring reliability and
efficiency in data center construction and operations.
www.JDCPowerSystems.com.
About Madison River Capital Madison River Capital is a
private equity firm focused on control buyouts in the lower middle
market that partners with founders and management teams to enhance
business growth and drive sustainable value creation. MRC leverages
deep operational expertise through its deep bench of Operating
Executives to support its portfolio companies. Additional
information about Madison River Capital can be found at
www.mrivercapital.com.
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For Media Alex Goss | Stanton PRM
agoss@stantonprm.com