The DAK Group, an investment bank based in Rochelle Park, announced Monday the sale of Plainview, New York-based Fortbrand Services Inc. to Wincove Private Holdings L.P.
“Fortbrand’s owners have gained a strategic partner to help accelerate their industry leadership position, while simultaneously monetizing the exceptional business they have built.” Scharfstein said.
Wincove, an investor in small businesses, was attracted to Fortbrand due to its “good bones” and growth opportunities in the ground support and airfield management industry, The DAK Group said.
The DAK Group served as the exclusive investment banker and financial advisor to Fortbrand in the deal. The DAK Group’s team was led by Alan Scharfstein, president; Steve Raymond, managing director; Ari Fuchs, director; and Melvyn Threatt-Peters, vice president.
“Fortbrand is an industry leader that provides exceptional service to its customers. We are very excited to partner with existing management to support the company’s growth,” John Lenahan, partner at Wincove, said.
Financial terms of the deal were not disclosed.
