NEW YORK & MILFORD, Mass.--(BUSINESS WIRE)--Cerberus Capital Management (together with its affiliates, “Cerberus”), a global leader in alternative investing, today announced that it has acquired Source Code Holdings ("Source Code" or the “Company”) from affiliates of JMC Capital Partners. Source Code will continue to be led by Founder and Chief Executive Officer Arthur Ataie and its existing management team.
Founded in 1992, Source Code is a leading provider of engineered computing solutions and services operating across three business segments: customized high-performance computing/artificial intelligence hardware, edge computing, and IT services. The Company helps its global customer base securely address complex IT challenges through its edge-to-data center-to-cloud infrastructure and computing capabilities. Throughout its history, Source Code has implemented approximately 1,600 hardware configurations and delivered more than 1,000,000 edge devices.
“Emerging trends in IT infrastructure are driving a new wave of demand for tailored, high-performance solutions,” said Michael Sanford, Senior Managing Director at Cerberus. “Source Code’s scale, breadth, and depth of engineering and design capabilities are distinctive in the industry. We are excited to partner with Source Code’s talented team to invest in its platform and build on its leadership position.”
Patrick Moriarty, Managing Director at Cerberus, added: “Source Code has earned a reputation among its customers as a go-to source for customized, leading edge computing solutions. The Company’s tenured relationships and strong track record with customers who have complex and rapidly evolving technology requirements create a strong foundation for continued growth.”
Mr. Ataie commented: “Connectivity is fueling the demand for global IT services. Source Code is well-positioned to meet this need with market-leading solutions on the edge, in the data center, and in the cloud. Our partnership with Cerberus will support our ability to further enhance our offerings and expand our capabilities to new geographies and industry verticals.”
Kirkland & Ellis served as legal advisor to Cerberus. Goodwin Proctor served as legal advisor and Lincoln International LLC served as financial advisor to Source Code.
About Cerberus
Founded in 1992, Cerberus is a global leader in alternative investing with over $55 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.
About Source Code
Founded in 1992, Source Code is a leading provider of customized hardware solutions for high-performance computing, artificial intelligence, and edge computing as well as a provider of IT managed services. Source Code ships thousands of systems each month to customers from its various locations and prides itself on its ability to provide flexible and leading-edge computing solutions for clients taking on the most complex computing challenges. An ISO 9001:2008 certified company, Source Code’s corporate headquarters are located in Milford, MA. Its flagship operating facility, located in Norwood, MA, is over 40,000 sq. ft. The Company also operates from additional facilities in Beverly, MA, Westfield, MA, Buffalo, NY, Seattle, WA, Taiwan, and the United Kingdom. For more information, visit: www.sourcecode.com.