Rochelle Park, NJ – January 26, 2021 – DAK, a leading investment bank specializing in middle market mergers and acquisitions worldwide, announces the sale of its client, West Essex Building Supply Co., Inc. Verona, NJ to Jaeger Lumber, headquartered in Union, NJ.
DAK served as the exclusive investment banker and financial advisor to West Essex, initiating and managing the sale process.
This transaction capitalizes on West Essex’s position as a full-service building supply business with a rich 80+ year history serving contractors and individual homeowners in the lucrative Essex County, New Jersey area.
“I met with the DAK team in March of 2020. We discussed my goals to sell the company by the end of the year and to protect my employees. DAK carefully formulated a customized divestiture strategy, accelerated the execution and achieved both my financial and personal goals. DAK made my dream come true and I am headed to the next stage of my life.” stated Chip Schneider, CEO, West Essex Building Supply Co.
DAK ran a competitive divestiture process and despite the global pandemic, garnered numerous offers, Jaeger Lumber was identified as the ideal partner, providing a similar culture and vision for growth.
“West Essex’s owners have been able to monetize the exceptional business they have built, while gaining a strategic partner to help accelerate their regional leadership position. We are proud to have worked with them on this next step of their journey, particularly during this challenging period in our country.” stated Steve Raymond, Managing Director, at DAK who led the transaction, along with Elyse Greenbaum, Director and Sam Walsh, Analyst.
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 West Essex Building Supply Co., Inc.
West Essex Building Supply Company is a full-service distributor of building materials and supplies for residential contractors and do it yourself homeowners. Its vast array of up-to-date product offerings include a multitude of options in the following categories: windows and doors, composite decking and accessories, moldings and millwork and lumber.
Jaeger Lumber is proudly serving New Jersey’s finest contractors and homeowners since 1937 for all of their construction and remodeling needs. We are a full-service provider of lumber and building products with an exceptionally knowledgeable and professional team of sales representatives ready to serve you at any one of our 7 locations throughout New Jersey. Our locations in Union, Madison, Stirling, Middlesex, Point Pleasant, Belmar and Lakewood serve Morris, Union, Somerset, Hunterdon, Essex, Bergen, Sussex, Passaic, Warren, Hudson, Mercer, Monmouth, Ocean, Burlington and Atlantic counties.
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