Carl Marks Securities, an affiliate of middle market investment bank Carl Marks Advisors, 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.