The DAK Group, 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. The DAK Group 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 The DAK Group.
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 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.