Rochelle Park, NJ – DAK, a leading investment bank specializing in middle market mergers and acquisitions worldwide, announces the sale of its client Comtel VoIP, Inc., a Buffalo, New York-based provider of hosted telephony solutions to Comstar Technologies, LLC an international provider of advanced telecommunications, managed IT services, physical security, and audio-visual solutions.
DAK served as the exclusive investment banker and financial advisor to Comtel initiating and managing a competitive process.
“Closing another transaction during the pandemic was particularly challenging for all parties. This period requires greater precision in focus and execution – we were fortunate to work with partners who shared this approach to success”, stated Sheon Karol, Managing Director, who led the deal team with Damir Makic, Vice President.
The transaction allows the owner of Comtel to monetize his hard work and ensure that Comtel’s customers retain the same superior service they have always enjoyed, with the added benefit of gaining access to the extensive Comstar Technologies portfolio of communications and technology solutions.
This strategic acquisition will expand Comstar’s geographic footprint and broaden Comtel’s solution portfolio beyond their current voice offerings. Comtel will continue to operate under its current name for the foreseeable future, with both companies focusing on continued growth and implementing next-generation communication services to support clients across the region and beyond.
“We are excited to join the Comstar Technologies Family,” said David Adams, President of Comtel VoIP. “Comtel was built by an outstanding and dedicated team with customer service as its top priority. We are looking forward to keeping that philosophy alive with Comstar while also expanding product offerings for our clients.”
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. The DAK Value Accelerator is the propriety process that allows clients to maximize the value of their business. DAK is headquartered in Rochelle Park, NJ with an office in Philadelphia.
About Comtel VoIP, Inc
Comtel VoIP, Inc has been committed to servicing the voice and supporting network needs of Buffalo and Western New York for the last three decades. Operating in Tonawanda, NY, Comtel’s client experience focus now applies to over 2,000 customers throughout the Tri-Cities area.
About Comstar Technologies, LLC
Comstar Technologies delivers a full suite of innovative solutions designed to ignite digital transformation. From cloud-based services to modern security and advanced audio-visual solutions, Comstar combines top-tier consulting with over 30 years of integration experience to deliver results for its clients.
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