Member News — The DAK Group Announces Sale of American Van Equipment to Safe Fleet
June 4th, 2018
The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client American Van Equipment, headquartered in Lakewood, NJ to Safe Fleet of Belton, MO.
The DAK Group served as the exclusive investment banker and financial advisor to American Van, managing the entire divestiture process.
“The owners of American Van have built an outstanding business. The sale to Safe Fleet offers American Van an excellent opportunity to continue to grow their vision, as well as an exceptional opportunity to monetize their life long investment.” stated Alan Scharfstein, President of The DAK Group.
This transaction capitalizes on American Van’s leadership position in the direct to consumer manufacture and distribution of van and truck shelving, storage systems, and accessories. For over 40 years American Van has worked directly with contractors, businesses and fleet owners, providing practical storage solutions for vans and trucks. Starting in 1978 as a catalog company, then moving into E Commerce, customers have depended on their superior products and outstanding customer service. “Joining Safe Fleet is a tremendous growth opportunity for the American Van family of products and employees,” said Chuck Richter, President, American Van.
Safe Fleet is a leading global provider of safety and productivity solutions for fleet vehicles. This acquisition solidifies Safe Fleet’s position within the Work Truck industry as the preeminent provider of safety and productivity solutions.
The DAK Deal Team was led by Alan Sharfstein, President, along with Mike Richmond, Elyse Greenbaum and Melvyn Peters. John Aiello, Partner at Giordano, Halleran & Ciesla led the legal team along with Steve Dalton, Jeri Abrams, Kurt Anderson and Steve Shur.