ARTICLE
The DAK Group, 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. The DAK Group 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.”