ARTICLE
The DAK Group, a leading investment bank specializing in middle market mergers and acquisitions worldwide, announces the sale of its client Delva Tool and Machine Corporation to Consolidated Machine & Tool Holdings, a portfolio company of White Wolf Capital. The DAK Group served as the exclusive investment banker and financial advisor to Delva initiating and managing the process. “Delva is an innovative company, and true industry pioneer. We are proud to have worked with them on this next step of their journey, particularly during this challenging period in our country. Delva’s owner has gained a strategic partner to help accelerate their industry leadership position, while ensuring the legacy of the company and its employees.” stated Steve Raymond, Managing Director, at The DAK Group who led the transaction, along with Melvyn Threatt- Peters II, Vice President and Samuel Walsh, Analyst. The DAK Group ran a competitive divestiture process and despite the global pandemic, garnered numerous offers. Consolidated Machine Tool Holdings (CMTH) was identified as the ideal acquirer providing a similar culture and vision for growth. “We are excited to be part of such a robust organization, where our clients and employees will enjoy additional benefits and continue to grow and succeed” stated Steve Voellinger, CEO, Delva Tool. This transaction capitalizes on Delva’s position as a leading innovator of precision machining services for world class customers in the aerospace & defense, energy, medical device, and industrial markets for over 55 years. Known for its remarkable turnaround and delivery times, Delva’s capabilities and domain expertise will enhance CMTH’s position in the aerospace & defense industry while also diversifying its customer base.