Rochelle Park, NJ – DAK, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client Fortbrand Services Inc., headquartered in Plainview, New York, to Wincove Private Holdings, LP. DAK served as the exclusive investment banker and financial advisor to Fortbrand initiating and managing the process.
Fortbrand’s owners have gained a strategic partner to help accelerate their industry leadership position, while simultaneously monetizing the exceptional business they have built.” stated Alan Scharfstein, President of DAK.
This transaction capitalizes on Fortbrand’s leadership position as a provider of ground support and airfield maintenance equipment. For over 35 years Fortbrand has provided leasing, rental and distribution of mission critical equipment to commercial airlines, airport operators, ground handling companies and fixed base operators throughout North America. Through its operation in Sastamala, Finland, Fortbrand services airport operators throughout Europe.
Wincove invests in small, growing businesses and was attracted to Fortbrand because of its “good bones” and growth opportunities in the industry. The acquisition gave them a platform to acquire similar businesses and expand in the ground support and airfield maintenance industry.
John Lenahan, Partner at Wincove added, “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.”
The DAK team was led by Alan Scharfstein, President, along with Steve Raymond, Managing Director, Ari Fuchs, Director and Melvyn Threatt-Peters, Vice President.
About DAK
www.dakgroup.com
DAK is a leading investment bank serving mid-market privately held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations and fairness opinions. Since 1984, DAK has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the propriety process that allows clients to maximize the value of their business. DAK is headquartered in Rochelle Park, NJ with an office in Philadelphia.
About Wincove Private Holdings
wincove.com
Wincove Private Holdings is an investment holding company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs and management teams to build market-leading companies. WPH invests from a permanent equity capital base and can therefore stay invested in its partner companies for an unlimited time horizon.
About Fortbrand Services
www.fortbrand.com
Fortbrand Services is a leading provider of ground support and airfield maintenance equipment to the global aviation industry. Fortbrand’s Ground Support Equipment business provides sales, leasing and short-term rentals of mission critical ground support equipment to airlines, ground handling companies and fixed base operators. The Company’s Airfield Maintenance Equipment business distributes snow removal and maintenance equipment to airports. For over three decades, Fortbrand has met the needs of airlines, airport operators, fixed-base operators and ground handling companies serving as a single source solution for equipment needs.
