Prairie Capital, a middle-market, Chicago-based private equity firm, is pleased to announce the successful sale of DAMAC Products LLC from Prairie Capital V. This exit highlights Prairie’s investment strategy of investing in founder-owned businesses and partnering with management teams to build market-leading companies in high-growth industries.
Prairie sold DAMAC to Maysteel Industries, LLC, a portfolio company of Littlejohn Capital. Damac is a leader in the data center infrastructure market providing server cabinets and structures, wallmount racks, and thermal management products. DAMAC delivers tailored solutions that are engineered to meet specific customer needs. DAMAC currently serves a number of industries including cloud computing, cloud storage, colocation, energy, finance, and telecommunications.
The Prairie investment thesis focused on transforming DAMAC into a scalable company capable of capitalizing on the growth inherent in the data center market. This effort required substantial company-building investments including: (i) recruiting a new CEO, CFO, VP of Sales, and Head of Engineering; (ii) expanding the product offering; (iii) investing in capital equipment and implementing process improvements to increase manufacturing capacity; and (iv) increasing the Company’s sales, marketing, and engineering capabilities through personnel and information technology investments. These investments, among others, enabled DAMAC to attract an impressive roster of blue chip customers and more than double revenue during Prairie’s hold period.