DAK Announces Majority Sale of Astrix Technology Leading Provider of Laboratory Informatics and Outsourced Solutions to the Global Scientific Community

Rochelle Park, NJ – DAK, a leading investment bank specializing in middle market mergers and acquisitions worldwide, announces the sale of a majority stake of its client, Astrix Software Technology, Inc. (d.b.a. Astrix Technology Group) headquartered in Red Bank, NJ to Quad-C Management, Inc. of Charlottesville, VA.

DAK served as the exclusive investment banker and financial advisor to Astrix, initiating and managing the sale process.

This transaction capitalizes on Astrix’s position as a nationally recognized provider of laboratory informatics, consulting and outsourced services to the scientific community. Its broad base of Fortune 500 and government agency clients depend on Astrix’ domain expertise and accredited professionals to develop and implement critical business processes.


“Astrix is an innovative company, and true industry pioneer sustaining extraordinary financial growth for over 25 years. Partnering with Quad-C will help to accelerate their industry leadership position, while ensuring the legacy of the company and its employees”

stated Steve Raymond, Managing Director at DAK who led the transaction, along with Elyse Greenbaum, Director and Milton Parra, Associate.

During the global pandemic, DAK ran a 100% virtual, competitive divestiture process. Through the use of technology and procedure reengineering the DAK team was able to generate numerous offers. Quad-C was identified as the ideal partner, providing a similar culture and vision for growth.

“We’re thrilled to enter this next chapter with Quad-C, a trusted, strategic and growth-focused partner.” stated Richard Albert, Chairman, Astrix Technology Group “with our proven expertise and resources, combined with Quad-C’s focus on creating long term value, we are confident in the ability to further accelerate the growth of our business.”

About DAK

DAK is a leading investment bank serving middle market privately held businesses in the areas of mergers and acquisitions, business sale, financial restructuring, bankruptcy, capital advisory, valuations, and fairness opinions. Since 1984, DAK has executed hundreds of transactions across a wide range of industries. DAK advocates for middle market companies providing thoughtful advice during their business’ lifecycle. DAK is headquartered in Rochelle Park, NJ with an office in Philadelphia.

About Astrix Technology Group

Astrix is a nationally recognized provider of scientific professional informatics, consulting, and outsourced services to scientific environments in the public and private sector. Its broad base of Fortune 500 clients and government agencies depend on Astrix’ domain expertise and accredited professionals to develop and implement critical business solutions. The value provided by Astrix’ flexible business model results in high customer retention across all lines of business.

About Quad-C Management, Inc.

Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business and consumer services, healthcare, industrials specialty distribution, and transportation/logistics companies. In its three-decade history, Quad-C has invested over $3 billion of capital in more than 65 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value.

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