Enhancing Technology & Implementation Expertise Offerings to Financial Institutions
Rochelle Park, NJ – The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces that Kenneth J. Sole & Associates (KJS), headquartered in Holbrook, NY has been acquired by SRM (Strategic Resource Management), headquartered in Memphis, TN with resources in North America and Europe.
The DAK Group served as the exclusive financial advisor to Kenneth J. Sole & Associates, leading a competitive process garnering interest from both Strategic and Financial investors, ultimately SRM emerged as the ideal partner.
“The owners of KJS have developed a remarkable enterprise. Through this strategic transaction, they have successfully capitalized on their lifetime investment and secured a strategic partner to continue the growth trajectory” stated Michael Richmond, Managing Director, at The DAK Group who led the transaction along with Jonathan Roth, Director, and Mark LaVilla, Associate.
This transaction capitalizes on KJS’s leadership position as a trusted technology consulting firm specializing in core processing platform conversion and optimization, migration support, project management, data rationalization, mergers and acquisitions tech stack selection and support, and outsourced leadership for community, regional, and national banks as well as a myriad of credit unions. The company opened its doors in 1988 and has served hundreds of financial institutions in its 35-year history.
This acquisition comes on the heels of increased market demand for technology partners who can help financial institutions adopt and operate modern core banking systems. With this acquisition, SRM, a leading vendor for Contracts, Strategy Payments, and Technology Advisory Services, expands its services to include core systems optimization and conversion support.
“I’ve worked closely with the team and SRM in recent years and have seen their willingness to go the extra mile for their clients. I am excited that the business I’ve built will now be an integral part of SRM’s solutions,” stated Ken Sole, President of KJS “I look forward to working with SRM’s executive team and turning our proven approach into a force multiplier for the enterprise.”
About The DAK Group
www.dakgroup.com
The DAK Group is a leading investment bank serving mid-market privately held businesses in the areas of mergers and acquisitions, business sales, strategic leadership advisory, valuations, and fairness opinions. Since 1984, The DAK Group has executed hundreds of transactions across a wide range of industries. The DAK Value Accelerator is the propriety process that allows clients to maximize the value of their business. The DAK Group is headquartered in Rochelle Park, NJ.
About Kenneth J. Soles & Associates
www.kjsassoc.com
Kenneth J. Sole & Associates was founded in 1988 as a banking and financial services consulting firm. KJS has served hundreds of financial institutions, ranging in all sizes, and including industry giants such as Fiserv, EDS, and FIS. The Kenneth J. Sole & Associates mission statement dictates quality, highly personalized and “hands-on” service with an orientation toward tangible results.
About SRM
www.srmcorp.com
SRM (Strategic Resource Management) has helped 1,000+ financial institutions add more than $10 billion of value to their bottom line by negotiating best-in-class terms across their card network, payments, core technology, and operational contracts. Additionally, SRM delivers strategy, payments consulting, and technology guidance and implementation to the industry. For 30+ years, SRM has lowered costs, created revenue opportunities, increased productivity, and provided a competitive edge for clients.
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