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Comtel IT looks to grow under new parent company, acquired with DAK’s help
Buffalo Business First interviews DAK about the sale of Comtel VoiP, Inc.
Comtel VoiP Inc. owner David Adams was seeking a buyer for the company he founded Oct. 1, 1990.
So he engaged DAK, a New Jersey investment banking firm, which got to work on the value proposition of the Buffalo-based VoiP firm.
That included all the traditional work on the business fundamentals, prospects for the future and what an ideal buyer might look like.
But at some point, the process bled past the spreadsheets, said Sheon Karol, DAK’s managing partner. Comtel IT’s geographic context became part of the pitch.
“I must admit I wasn’t fully aware of the dynamism in Buffalo and the value it brings to the middle market,” Karol said. “There’s a business activity and a growing intellectual resource that is not well understood by the outside world. It’s something we discussed in our presentations with potential buyers.”
Comtel struck a deal recently with Comstar Technologies, based in West Chester, Pa., and an international telecommunications company.
Comtel’s 15-person team in Western New York is expected to grow with the new parent company, which will give it a full suite of tech products to offer existing and new customers, said Robert Hanaka, vice president of sales at Comtel.
“The goal is to expand our business, and to add staff on the sale and engineering side,” he said.
In the meantime, Karol said many of Buffalo’s small- to medium-sized private businesses may have a bigger opportunity than they realize.
“My message to Buffalo businesses is to connect to outside professionals who can access this opaque middle market,” he said. “You don’t know about the deals, about the companies, unless you have somebody who can tell you.”
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