M&A Deal Summary

JMC Capital Partners Acquires Source Code

On May 17, 2018, private equity firm JMC Capital Partners acquired information technology company Source Code from Massachusetts Capital Resources Company

Acquisition Highlights
  • This is JMC Capital Partners’ 2nd transaction in the Information Technology sector.
  • This is JMC Capital Partners’ 2nd transaction in the United States.
  • This is JMC Capital Partners’ 2nd transaction in Massachusetts.
Investment Fate
  • Source Code was sold to a consortium of financial buyers in 2021.

M&A Deal Summary

Date 2018-05-17
Target Source Code
Sector Information Technology
Buyer(s) JMC Capital Partners
Sellers(s) Massachusetts Capital Resources Company
Deal Type Secondary Buyout

Target

Source Code

Norwood, Massachusetts, United States
Source Code is a provider of custom manufactured computer solutions, computer component sourcing, and distribution services throughout the Northeast and Midwest. Source Code was founded in 1992 and is based in Milford, Massachusetts.

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Buyer(S) 1

Buyer

JMC Capital Partners

Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 206M USD
Size Small
Type Sector Agnostic
DESCRIPTION

JMC Capital Partners is an operationally oriented private equity firm focused on acquiring and building niche companies in fragmented industries. The Firm pursues platform companies with $5 to $35 million in revenue and will consider opportunities throughout North America. Sectors of interest include specialty packaging, test/measurement devices, ruggedized devices, building automation, thermal management, air & liquid filtration, fluid handling, smart city hardware, specialty coatings, process instrumentation, and industrial valves. JMC Capital Partners was established in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 2 of 6
Sector: Information Technology M&A 2 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Massachusetts M&A 2 of 3
Country: United States M&A 2 of 6
Year: 2018 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-05 Comark

Milford, Massachusetts, United States

Comark is a provider of smarter automation solutions and IIoT platforms for the industrial and building automation markets. Comark was founded in 1974 and is based in Milford, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 Phoenix Lighting

Milwaukee, Wisconsin, United States

Phoenix Lighting is a manufacturer of rugged industrial lighting products. Phoenix Lighting was founded in 1892 and is based in Milwaukee, Wisconsin.

Buy -

Seller(S) 1

SELLER

Massachusetts Capital Resources Company

Boston, Massachusetts, United States

Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1977
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Massachusetts Capital Resource Company (MCRC) is a limited partnership privately owned and funded by Massachusetts-based life insurance companies. MCRC provides mezzanine financing for businesses with $3 to $100 million in revenue seeking capital to fund growth, strengthen balance sheets, or complete acquisitions. MCRC will consider investments in technology and non-technology companies seeking capital of $1 to $5 million. MCRC was formed in 1977 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 8 of 11
Sector: Information Technology M&A 1 of 2
Type: Secondary Buyout M&A Deals 1 of 1
State: Massachusetts M&A 7 of 10
Country: United States M&A 8 of 11
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-05 Advanced Practice Strategies

Boston, Massachusetts, United States

Advanced Practice Strategies, Inc. is a provider of instructional solutions promoting patient safety, jury education and medical risk management. The APS eLearning division offers web-based training to physicians and nurses, designed to reduce medical error and increase patient safety. Advanced Practice Strategies, Inc. was founded in 1993 and is based in Boston, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 Xtalic

Marlborough, Massachusetts, United States

Xtalic provides proprietary products and services to OEM electronics companies that reduce corrosion and increase the reliability of connection points in smartphones and enterprise servers. Xtalic was founded in 2005 and is based in Marlborough, Massachusetts.

Buy -