M&A Deal Summary

Thompson Street Capital Partners and Cequel III Acquire DDC

On January 31, 2024, private equity firms Thompson Street Capital Partners and Cequel III acquired technology hardware company DDC

Acquisition Highlights
  • This is Thompson Street Capital Partners’ 4th and Cequel III’s 1st transaction in the Technology Hardware sector.
  • This is Thompson Street Capital Partners’ 71st and Cequel III’s 9th transaction in the United States.
  • This is Thompson Street Capital Partners’ 4th and Cequel III’s 1st transaction in California.

M&A Deal Summary

Date 2024-01-31
Target DDC
Sector Technology Hardware
Buyer(s) Thompson Street Capital Partners
Cequel III
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) DH Capital (Financial)
VLP Law Group (Legal)

Target

DDC

San Diego, California, United States
website
DDC is a designer and manufacturer of innovative data center cabinets and cooling solutions. The company provides superior, cost-effective cooling options for the high-density GPU clusters that are required to run artificial intelligence (AI) and other compute-intensive applications. Its products combine the efficiency of water cooling with the flexibility of traditional air cooling. DDC is based in San Diego, California.

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Buyer(S) 2

Buyer

Thompson Street Capital Partners

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2001
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Thompson Street Capital Partners is a private equity firm that targets control stakes in profitable, mid-sized North American companies with $5 to $20 million of EBITDA. Thompson Street looks for family businesses, private companies seeking liquidity, corporate divestitures, and public companies going private. Areas of interest include healthcare services, business services, electronics, information technology, and engineered products companies. Thompson Street will not consider investments in start-ups, early stage companies, or real estate. Thompson Street Capital was founded in 2000 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 72 of 72
Sector (Technology Hardware) 4 of 4
Type (Buyout (LBO, MBO, MBI)) 30 of 30
State (California) 4 of 4
Country (United States) 71 of 71
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-07 ZymeFlow

Houston, Texas, United States

ZymeFlow engages in the decontamination of hydrocarbon process equipment for entry, inspection, and maintenance including hot work. The exclusive ZymeFlow Process uses proprietary chemistry and application to achieve vessel entry in 8-12 hours. This unparalleled process prepares equipment for entry by simultaneously de-oiling while eliminating pyrophoric iron sulfide (FeS), hydrogen sulfide (H2S), benzene, and other explosive gases (LELs). ZymeFlow was founded in 2002 and is based in Houston, Texas.

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Buyer

Cequel III

St. Louis, Missouri, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Cequel III LLC is a specialist investment and management firm focused on the development of cable and telecommunications companies. Cequel was formed in 2002 and is based in St. Louis, Missouri.


DEAL STATS #
Overall 9 of 9
Sector (Technology Hardware) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 4 of 4
State (California) 1 of 1
Country (United States) 9 of 9
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 StayLock Storage

St. Louis, Missouri, United States

StayLock Storage is a provider of self-storage, under the StayLock banner. The facilities feature 916 non-climate controlled storage units and 37 spaces for boat and vehicle parking with five locations in Northwest Indiana. Locations include Demotte, Hebron, Kouts, Wheatfield, and Winfield (Lake of the Four Seasons), Indiana. StayLock Storage was founded in 2016 and is based in St. Louis, Missouri.

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