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New State Capital Partners buys majority stake in Computer Data Source

Private investment firm New State Capital Partners LLC purchased a majority stake in Computer Data Source Inc. for an undisclosed sum.

CDS co-founder Ron Wollner maintained an equity stake in the company and will remain as a senior adviser to the board, according to a news release.

The company's senior management team, including Chief Technology Officer Jim McDivitt; Tom Vaisanen, president of Canada, EMEA and Asia Pacific; Chief Solutions Officer John Hlinka; and CFO Michael McKee, also invested in the company and will remain in their positions.

CDS provides data center storage and support services.

The transaction marks New State's third platform investment in the last 10 months. Earlier this month, the firm acquired a majority stake in Mako Steel Inc.

Debt financing for the CDS transaction was provided by Crystal Financial LLC. New State received legal advice from Morgan Lewis and debt placement advisory from Piper Jaffray & Co. Gartner provided industry guidance in connection with the CDS deal.