The DAK Group, a Rochelle Park-based investment banking firm, announced the sale of its client, N&S Supply, to Watsco Inc., a large distribution network for heating, air conditioning and refrigeration products.
DAK’s team of Alan Scharfstein, president; Steve Raymond, managing director; and Elyse Greenbaum, director; served as investment bankers and financial advisors to Fishkill, New York-based N&S.
“The owners of N&S Supply have built an outstanding business. The sale to Watsco Inc. offers N&S an excellent chance to continue to grow their vision, as well as an exceptional opportunity to monetize their life long investment” Alan Scharfstein, president of The DAK Group, said.
The deal, DAK said, will enhance N&S’s position in the Hudson Valley as a provider of heating, A/C, hydronic heating and plumbing.
“N&S Supply has a wonderful legacy and we are proud to become part of their family. As is our custom, the company will operate under its existing name under the direction of its current leadership team,” Albert H. Nahmad, chairman and CEO, Watsco, said.