DAK Group sells Tryco to Connecticut Spring & Stamping; manufacturing to move out of state

A business man with an open hand ready to seal a deal

The Rochelle Park-based DAK Group, an investment bank that specializes in guiding middle-market companies, recently announced the sale of its client, Tryco Tool & Manufacturing Inc. of Orange, to Connecticut Spring & Stamping, headquartered in Farmington, Connecticut.

The DAK Group served as the exclusive investment banker and financial adviser to Tryco, initiating and managing the process.

Tryco is a family business known for its engineering expertise, reliability and continuous innovation to solve customers’ problems.

“The sale to CSS provides Tryco an excellent opportunity to continue to grow their vision, as well as simultaneously monetizing the exceptional business they have built,” Mike Richmond, the managing director who led the transaction, said.

The DAK Group led a competitive divestiture process, garnering several offers. Ultimately, CSS emerged as the ideal acquirer to expand production capabilities and increase product breadth.

The acquisition will provide Tryco’s customers with additional products and more customized capabilities. CSS will continue manufacturing in Orange for 3-6 months as it transitions all production to its three facilities in Farmington and Southington, Connecticut.