Michael Richmond Bio

The DAK Group Announces Sale of Tryco to Connecticut Spring & Stamping

Expanding The Power of Precision Manufacturing Rochelle Park, NJ – The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client Tryco Tool & Manufacturing Inc. of Orange, NJ to Connecticut Spring & Stamping (CSS) headquartered in Farmington, Connecticut. The DAK Group served as the exclusive […]

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Selling a Family Business: Legal, Financial, & Estate Planning Considerations

DAK’s, Managing Director, Michael Richmond, joins Shenkman Wealth Management’s President Jonathan I. Shenkman, as a panelist for their Fall Webinar Series. Michael, along side Bernadette Kasnicki, Esq., LL.M, Partner, Rivkin Radler, LLP and Avi Sinensky, Esq., Partner, Rivkin Radler, LLP cover the business, legal, and estate planning issues that arise when selling a family business.

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VCI – Emergency Vehicle Specialists recapitalized by Tightrope Capital & NewSpring Capital

VCI is the preeminent full lifecycle sales and service provider of emergency ambulance solutions to first aid squads, EMS organizations, fire departments, hospital organizations, municipalities, and private medical transport companies in the Mid-Atlantic Region. VCI was recapitalized by private equity firms Tightrope Capital Partners and NewSpring Capital.

DAK led a competitive, sell-side process for VCI, generating multiple offers from a wide range of strategic buyers and financial sponsors. By positioning the combination of VCI’s market leadership position, comprehensive services offering, strong manufacturer relationships, and robust backlog, DAK achieved an outstanding outcome for the company’s shareholders.

The acquisition provides the shareholders of VCI an opportunity to accelerate its growth strategy by expanding its core ambulance business, building out the value-added segments of conversions and remounts, implementing operational improvements, and pursuing acquisitions with the help of its new partners. Tightrope and NewSpring have an opportunity to leverage VCI’s strong management team and operating platform to build a multi-regional player in emergency ambulance solutions.

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