A Cinnaminson-based precision machining company has been sold to a private investment firm, according to investment bank the DAK Group.
The Rochelle Park-based mergers & acquisitions specialist said in a news release that Delva Tool and Machine Corp. was sold to Consolidated Machine & Tool Holdings, a portfolio company of investment firm White Wolf Capital.
The DAK Group served as the exclusive investment banker and financial adviser to Delva, initiating and managing the sale process.
“Delva is an innovative company and true industry pioneer,” Steve Raymond, a managing director at the DAK Group who led the transaction, said in a prepared statement. “We are proud to have worked with them on this next step of their journey, particularly during this challenging period in our country. Delva’s owner has gained a strategic partner to help accelerate their industry leadership position, while ensuring the legacy of the company and its employees.”
Raymond’s team included Melvyn Threatt-Peters II, vice president, and Samuel Walsh, analyst.