Leader in manufacturing and importing of material handling equipment expands capabilities for Texas-based industrial equipment provider
Rochelle Park, NJ –DAK, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client Wesco Industrial Products, Inc. headquartered in North Wales, PA to Bluff Manufacturing, the leading provider of industrial equipment that enhances the safety and efficiency of loading docks and warehouses, headquartered in Fort Worth, Texas.
DAK served as the exclusive investment banker and financial advisor to Wesco initiating and managing the divestiture process.
“Wesco’s owners have been able to monetize the exceptional business they have built, while gaining a strategic partner to help accelerate their industry leadership position.” stated Alan Scharfstein, President of DAK.
This transaction capitalizes on Wesco’s leadership position in the manufacturing and importing of branded non-motorized material handling equipment. For over 65 years the Philadelphia-area company and its brands have been synonymous with highly-engineered design and superior customer service. Wesco’s products cover the full range of drum handling and lift equipment, hand and platform trucks and other related products. Wesco’s owners wanted to ensure that anyone buying the company would also retain the 100+ loyal employees, and continue to operate out of the two North Wales facilities, Bluff has agreed to these terms.
This acquisition expands Bluff Manufacturing’s product offerings for existing customers, and provides Wesco’s customers with additional products as well. This is the second acquisition in the industrial products space for Wincove Private Holdings.
About Wincove Private Holdings, LP
www.wincove.com
Wincove Private Holdings is an investment holding company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs and management teams to build market-leading companies.
About Wesco Industrial Products Inc.
www.wescomfg.com
Wesco Industrial Products, Inc. was founded in 1948, and is a leader of branded non-motorized material handling equipment. The Company manufactures and sources a broad portfolio of highly-engineered industrial products in five categories: drum handling equipment, hand trucks, lift equipment, platform trucks and related products. Wesco’s customer base is made up of nationally recognized industrial product distribution firms.
About DAK
www.dakgroup.com
DAK is a leading investment bank serving mid-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.
