DAK Group announces sale of American Van Equipment

The DAK Group, an investment bank based in Rochelle Park, announced Monday the sale of Lakewood-based American Van Equipment to Belton, Missouri-based Safe Fleet.

The DAK Group said it served as the exclusive investment banker and financial advisor to American Van.

“The owners of American Van have built an outstanding business. The sale to Safe Fleet offers American Van an excellent opportunity to continue to grow their vision, as well as an exceptional opportunity to monetize their life long investment.” said Alan Scharfstein, president of The DAK Group.

The transaction, The Dak Group said, will allow for American Van to be a leader in the direct-to-consumer market for van and truck shelving, storage systems and accessories. It also solidifies Safe Fleet’s position in the work truck industry.

“Joining Safe Fleet is a tremendous growth opportunity for the American Van family of products and employees,” said Chuck Richter, president, American Van.

The DAK Deal Team was led by Sharfstein, along with Mike Richmond, Elyse Greenbaum and Melvyn Peters. John Aiello, Partner at Giordano, Halleran & Ciesla led the legal team along with Steve Dalton, Jeri Abrams, Kurt Anderson and Steve Shur.