Rochelle Park, NJ – DAK, a leading investment bank specializing in middle market M&A and restructuring, announces the sale of its client Video Corporation of America (“VCA”), located in Somerset, NJ to York Telecom Corporation (“Yorktel”), an Eatontown, NJ-based provider of workplace communication and collaboration solutions. DAK served as the exclusive investment banker to VCA.
“VCA’s products, services and talent are a natural fit for Yorktel. We are excited to watch the continued success of the business under Yorktel’s ownership,” stated Ari Fuchs, Managing Director, who led the deal team along with Sheon Karol, Managing Director, and Melvyn Peters, Vice President.
DAK ran a marketing process that resulted in Yorktel being selected as the stalking horse and ultimately the successful bidder in a 363-sale. Yorktel, through a newly formed, wholly owned subsidiary York-VCA, LLC, purchased substantially all of VCA’s assets. “Working with our client, we ensured the continuation of a business that had experienced a downturn by identifying the underlying value of the business and then made a strategic decision to run the sale through a Chapter 11 filing”, said Sheon Karol.
The VCA transaction demonstrates DAK’s unique ability to achieve success for its clients by combining deep sector experience with restructuring expertise. Leveraging its sector knowledge and expertise, DAK tapped into its extensive base of middle market contacts to find a buyer for whom these assets were of particular value and achieved a successful sale in which all stakeholders benefitted.
“I am delighted to have the opportunity to bring the team at VCA over to Yorktel,” commented Dave Berlin, President, VCA. “Both our companies share the same values, long history, and commitment to customer success. I am proud to be able to bring VCA’s legacy of technical innovation, deep domain expertise and strong customer relationships to Yorktel.”
“With very little overlap in our respective customer portfolios, the team at VCA brings extensive experience in audio and video systems integration that will enhance Yorktel’s existing capabilities, including engineering, fabrication, field resources, digital signage, and help desk support,” said Ken Scaturro, President and COO, Yorktel. “In turn, VCA’s customers will now be able to receive a broader suite of services, including managed conferencing services to include monitoring and alarming, media services and a full suite of staff augmentation skill sets”.
Founded in 1972, VCA has had a long and successful history providing Audio Visual, Post-Production and Broadcast, Digital Signage, and Unified Communications solutions and support services for some of the most prestigious organizations in the world.
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.
Video Corporation of America offers full-scale, integrated technology solutions and managed services to organizations across various vertical markets for over 40 years. VCA understands that today’s business leaders require technology that enables their people to communicate faster, more easily, and with greater impact. Headquartered in Somerset, NJ, VCA designs, engineers, integrates, manages and maintains technology and broadcast systems for Fortune 500 companies, professional services firms, colleges and universities and government agencies.
For over 35 years, Yorktel has been a leader in helping enterprise, healthcare, education and public sector customers plan, navigate and successfully execute digital workplace transformation initiatives. The global team works to ensure all aspects of these initiatives, including systems evaluations, network preparedness, technology assessments, change management planning, device and network management and monitoring have been addressed. Yorktel designs, integrates and manages the communication and collaboration solutions that enable your connected workforce.
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