PE-backed Source Code buys certain assets of Silicon Mechanics

Source Code, a portfolio company of JMC Capital Partners, has acquired certain assets of Seattle-based Silicon Mechanics, a provider of servers, storage and high-performance computing technologies. No financial terms were disclosed.

PRESS RELEASE

BOSTON, Aug. 23, 2018 /PRNewswire/ — JMC Capital Partners (“JMC”) is pleased to announce that its portfolio company Source Code LLC (“Source Code”) has completed the acquisition of certain assets of Silicon Mechanics, based in Seattle, WA. Headquartered in Waltham, MA, Source Code is a leader in the design and manufacture of dedicated servers for independent software developers, advanced artificial intelligence, and deep learning applications, and a leading provider of IT services.

“We are very pleased to complete the acquisition of Silicon Mechanics,” said Arthur Ataie, CEO of Source Code. “This acquisition strengthens our position in a number of markets, further enhances our West Coast presence, and continues our aggressive program of building our businesses both through acquisition and organic growth. We are very excited to have the Silicon Mechanics team join our expanding business.”

“This second add-on acquisition, coming only 3 months after Source Code joined our portfolio, continues our aggressive growth program,” said David Logan, JMC Operating Partner. “We are excited to execute another add-on acquisition that enhances our capabilities.”

About Source Code
Founded in 1992, Source Code is a leading manufacturer of custom built server and storage devices as well as a provider of IT services. Source Code ships thousands of server systems each month from various locations. The flagship facility in Norwood, Massachusetts, is being expanded and is ISO 9001:2008 certified. Corporate headquarters are in Waltham, MA. For more information, visit https://www.sourcecode.com.

About JMC
Founded in 1999, JMC is a private equity firm that has adhered to a consistent approach and strategy focused around driving value through operational and strategic excellence in industrial products and technology focused companies. JMC’s partners come from operating backgrounds and have executed this strategy as owners and operators as well as investors. We are able to streamline the acquisition process, focus on the important outcomes, and provide rapid and timely transactions. For more information, visit http://www.jmccp.com.