Milwaukee-based private equity firm Mason Wells has sold Dedicated Computing to Chicago-based McNally Capital.
Waukesha-based Dedicated Computing is an original design manufacturer of proprietary, highly-engineered computing systems for blue-chip OEM customers in health care, life sciences, training and simulation and industrial markets.
Terms of the deal were not disclosed.
Ward McNally, managing partner at McNally Capital, said Dedicated Computing had an impressive history of growth and McNally would seek to help it continue expanding its customer base.
“Dedicated Computing has established itself as a leader in its markets by developing innovative, proprietary solutions for its customers,” said Adam Lerner, principal at McNally Capital. “We are excited to support management as they continue to pursue their current hardware and software development strategy while deepening and broadening their technology services capabilities.”
Don Schlidt, president and chief executive officer of Dedicated Computing, said the company enjoyed working with Mason Wells to establish it as a “mission-critical systems provider for our customers and appreciate their support and confidence in our strategy by facilitating the ownership transition to McNally Capital.”
“McNally Capital’s partnership mentality, proven track record, and access to experts within the technology space left no doubt that they are the right group to support us going forward,” Schlidt said.
Two Roads Group, an investment and advisory firm focused on industrial technology, participated alongside McNally Capital in the due diligence process and as a co-investor in the transaction. Financing partners include PNC Bank’s Chicago office and Baltimore-based Patriot Capital. The Ropes & Gray Chicago office acted as legal advisor to McNally Capital.
A representative of Mason Wells was not immediately available for comment.