The Rochelle Park-based DAK Group, a leading investment bank specializing in middle-market mergers & acquisitions, recently announced that Kenneth J. Sole & Associates, headquartered in Holbrook, New York, has been acquired by Strategic Resource Management, headquartered in Memphis, Tennessee, with resources in North America and Europe.
The DAK Group served as the exclusive financial adviser to Kenneth J. Sole & Associates, leading a competitive process garnering interest from both strategic and financial investors; ultimately, SRM emerged as the ideal partner.
“The owners of KJS have developed a remarkable enterprise. Through this strategic transaction, they have successfully capitalized on their lifetime investment and secured a strategic partner to continue the growth trajectory,” Michael Richmond, managing director at the DAK Group said. Richmond led the transaction along with Jonathan Roth, director, and Mark LaVilla, associate.
This acquisition comes on the heels of increased market demand for technology partners who can help financial institutions adopt and operate modern core banking systems. With this acquisition, SRM, a leading vendor for contracts, strategy payments and technology advisory services, expands its services to include core systems optimization and conversion support.
“I’ve worked closely with the team and SRM in recent years and have seen their willingness to go the extra mile for their clients. I am excited that the business I’ve built will now be an integral part of SRM’s solutions,” Ken Sole, president of KJS, said. “I look forward to working with SRM’s executive team and turning our proven approach into a force multiplier for the enterprise.”
