Company Overview of JEC Capital Partners, LLC
JEC Capital Partners, LLC is a private equity firm specializing in technology focused investments. It is based in Randoplh, Massachusetts.
68 Mazzeo Drive
Randolph, MA 02368
Key Executives for JEC Capital Partners, LLC
Compensation as of Fiscal Year 2014.
JEC Capital Partners, LLC Key Developments
Investors Plan To Put Synacor Up For Sale
Jun 26 14
JEC Capital Partners, LLC and Ratio Capital Management B.V. plan to put Synacor, Inc. (NasdaqGM:SYNC) up for sale and had sent an open letter. The open letter said potential buyers have been met with indifference by the board because of Chairman Jordan Levy's "self-interested and civic-minded agenda to maintain the headquarters of a public technology company in Buffalo, NY." According to Business First of Buffalo, Levy declined comment this morning because he hasn't had a chance to speak with Synacor's attorney and board members. JEC Capital and Ratio Capital each recently purchased a 4.9% stake in the company, giving them an influential say on the company's future. The letter was signed by Michael Torok of JEC and Bart Kool of Ratio. Synacor were up nearly 2% to $2.58 on June 26, 2014, morning after the letter was released. Torok and Kool have other ideas. "We ask that you halt the search for a CEO and instead engage an investment banker to pursue strategic alternatives," they wrote. "We are confident that Synacor will have serious interest from multiple parties at prices far in excess of the current share price. We are also confident that the majority of Synacor's shareholders are in support of an open and formal sale process." Torok and Kook took specific issue with Synacor's cash balance, R&D spend, corporate communications and the board's "inexplicable decision to announce a CEO transition publicly with no succession plan and its decision to give the outgoing CEO an above-market exit package." They announced their skepticism that Synacor has a strategy that will create more value than a sale. "We believe that the reason no such strategy has been disclosed is that one does not exist," they wrote. "As a result, we do not believe there is a realistic chance of shareholder value creation from operation autonomously and Synacor has zero chance of retaining a world-class CEO who can regain some of the shareholder value that has been squandered."
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