M&A Deal Summary

True Wind Capital Acquires DCM Services

On March 17, 2025, private equity firm True Wind Capital acquired information technology company DCM Services from NMS Capital

Acquisition Highlights
  • This is True Wind Capital’s 3rd transaction in the Information Technology sector.
  • This is True Wind Capital’s 12th transaction in the United States.
  • This is True Wind Capital’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2025-03-17
Target DCM Services
Sector Information Technology
Buyer(s) True Wind Capital
Sellers(s) NMS Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)

Target

DCM Services

Bloomington, Minnesota, United States
DCM Services is a provider of tech-enabled estate receivables management solutions and SaaS software to multiple end markets, including financial services, healthcare, utilities, telecom, and others. DCM Services was founded in 1998 and is based in Bloomington, Minnesota.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

True Wind Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2015
PE ASSETS 560M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

True Wind Capital Management LLC is a private investment firm focused on technology companies. True Wind pursues a variety of transaction types across all company stages, including management buyouts, growth financings, stake purchases, and venture. True Wind Capital Management was formed in 2015 and is based in San Francisco, California.


DEAL STATS #
Overall 13 of 13
Sector: Information Technology M&A 3 of 3
Type: Secondary Buyout M&A Deals 1 of 1
State: Minnesota M&A 1 of 1
Country: United States M&A 12 of 12
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-22 The Switch

Osterville, Massachusetts, United States

The Switch has been connecting viewers around the world to live events by bringing them the content they want across linear TV, on-demand, and streaming platforms – on multiple screens and devices. The company's comprehensive production platform combines mobile and remote services to enable its customers to cost-effectively capture, edit and package compelling, high-quality live coverage. Its delivery network connects production facilities with 800+ of the world's largest content producers, distributors, and sports and event venues, seamlessly linking rights holders, broadcasters, streaming platforms, media outlets, and web services – and turning-on live content across the world. The Switch was formed in 1991 and is based in Osterville, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-08 AIA Contract Documents

Washington, District of Columbia, United States

AIA Contract Documents is a provider of customizable legal contracts. AIA Contract Documents has been the gold standard of legal documents and a thought leader within the construction industry for over 130 years. AIA Contract Documents was founded in 1888 and is based in Washington, District of Columbia.

Sell -

Seller(S) 1

SELLER

NMS Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2010
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NMS Capital is a private investment firm that specializes in strategic equity investments and leveraged buyouts. The Firm targets middle-market growth companies throughout the US. New Mainstream focuses on companies with experienced management, high operating margins, and strong cash flows. NMS Capital looks to invest $25 to $75 million in companies valued up to $150 million. The Firm will consider opportunities in a variety of sectors, however the Firm has a special interest in healthcare services, consumer products/services, and specialized business services. NMS Capital was formed in 2010 and is based in New York, New York.


DEAL STATS #
Overall 11 of 12
Sector: Information Technology M&A 1 of 1
Type: Secondary Buyout M&A Deals 5 of 6
State: Minnesota M&A 1 of 1
Country: United States M&A 10 of 11
Year: 2025 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 CSD Autism Services

Alameda, California, United States

CSD Autism Services is an applied behavioral analysis (“ABA”) services company specializing in home-based, personalized, evidence-based Autism Spectrum Disorder (“ASD”) treatment. The company services throughout Northern California, Oregon, and Hawaii to over 1,200 clients, primarily under the age of 15, with its clinical staff of over 600. CSD Autism Services was founded in 2012 and is based in Alameda, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-09 U.S. Urology Partners

Nolensville, Tennessee, United States

U.S. Urology Partners offers an alternative to hospital acquisition, allowing urology practices to retain their independence while benefitting from operational support, management expertise and deep financial resources of a partner. U.S. Urology Partners is based in Nolensville, Tennessee.

Sell -