Matrix Capital Markets Group, an independent investment bank, advised on the sale of Dana Safety Supply (DSS) to AEA Investors. Prior to the sale, DSS was a wholly-owned subsidiary of Scott McRae Automotive Group (SMAG)._x000D_
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“DSS has been growing steadily over the past 15 years, and as we continue on our path of future growth in all areas of the country, finding the right partner is crucial to our success. We were very fortunate to have many options in this regard, and after a long evaluation process, it was clear that AEA was the right partner for DSS. AEA’s pristine reputation, financial resources and 50-plus-year track record of success are some of the many reasons we chose AEA as our partner,” David Russo, CEO of DSS, said. “We have been unbelievably fortunate to have been part of SMAG and its 100-year history of remarkable stability and success. We are forever grateful to SMAG and will continue to operate on the principles that have made SMAG and DSS successful — transparency, accountability, first-rate facilities and people. Those attributes, combined with a burning desire to serve first responders and the public safety community, will guide our team into the future.”_x000D_
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Matrix provided merger and acquisition advisory services to DSS and SMAG, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the transaction. The transaction was managed by William O’Flaherty, managing director, Matt Oldhouser, vice president and David Shoulders, managing director._x000D_
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“Matrix exceeded our expectations in every respect during this transaction. Their tactical expertise created a tremendous amount of value and I am thankful we chose them to guide us through this process,” Jeff Curry, CEO of SMAG, said. “We are very proud of the team at DSS and the company that they have built over the last 15 years. We will always consider them part of the SMAG family and look forward to watching them take the company to the next level!”_x000D_
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“We were honored to represent SMAG and DSS in this important transaction,” O’Flaherty said. “The company’s passion for providing outstanding service to the public safety market is commendable and we are pleased to have found a partner that shares the same enthusiasm for that industry and commitment to excellence.”_x000D_
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Smith Hulsey & Busey served as legal counsel for DSS and SMAG. CohnReznick provided accounting advisory services to the company.
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