KANSAS CITY, Mo. – DIT-MCO International Corporation’s business has been acquired via an asset purchase led by Capital For Business and Sage Capital. Capital For Business is a St. Louis-based private investment firm owned by Commerce Bancshares, Inc. Founded in 1959, it is one of the oldest small business investment companies (SBICs) in the nation. Sage Capital is a private equity firm founded in 2004 and is also based in St. Louis. DIT-MCO’s operations will continue in its current location under the newly formed DIT‑MCO International LLC.
“As a global leader in its industry with an outstanding management team, DIT-MCO represents the types of businesses in which we like to invest,” said Steve Broun, managing partner of Capital For Business. “We’re extremely pleased to join with Capital For Business and DIT-MCO’s management on this acquisition,” added Sage Capital’s co-founder, Wesley M. Jones.
John Kusek, DIT-MCO’s Chief Operating Officer will assume the position of President and Chief Executive Officer. All other personnel will remain in their positions with the newly formed company. “We are pleased to find partners who recognize the role of DIT-MCO’s dedicated employees in making the business a market leader for over 60 years, and we welcome the opportunity to benefit from the additional resources that our new ownership offers” explained Kusek.
DIT-MCO International Corporation has been controlled since 1959 by F. L. Thompson as President and later as Chairman of the Board until his death in March of 2015. DIT-MCO’s retiring President, Richard Thompson, stated “A key consideration for our family was to ensure continuity in DIT-MCO’s operations for the benefit of both the employees and the customers that depend on DIT-MCO’s test systems every day. This acquisition fulfills that objective.”