ROCHELLE PARK, N.J. — The DAK Group, an investment bank specializing in middle-market mergers and acquisitions worldwide, announced the sale of its client N&S Supply, headquartered in Fishkill, New York, to Watsco Inc.
The DAK Group served as the exclusive investment banker and financial advisor to N&S Supply initiating and managing the process.
“The owners of N&S Supply have built an outstanding business,” said Alan Scharfstein, president of The DAK Group. “The sale to Watsco Inc. offers N&S an excellent chance to continue to grow their vision, as well as an exceptional opportunity to monetize their life long investment.”
This transaction capitalizes on N&S’s leadership position in the Hudson Valley as a provider of heating, air conditioning, hydronic heating, and plumbing products distributed out of seven locations.
The DAK Group led a competitive divestiture process garnering several offers, ultimately Watsco Inc. made the acquisition in order to expand their presence in the Northeast United States.
“N&S Supply has a wonderful legacy and we are proud to become part of their family,” said Albert H. Nahmad, Watsco’s chairman and CEO. “As is our custom, the company will operate under its existing name under the direction of its current leadership team.”
The DAK team was led by Alan Scharfstein, president, along with Steve Raymond, managing director, and Elyse Greenbaum, director.
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