The DAK Group has announced the sale of Video Corporation of America (“VCA”), located in Somerset, NJ to York Telecom Corporation (“Yorktel”) an Eatontown, NJ-based provider of workplace communication and collaboration solutions. The DAK Group served as the exclusive investment banker to VCA.
“VCA’s products, services and talent are a natural fit for Yorktel. We are excited to watch the continued success of the business under Yorktel’s ownership” stated Ari Fuchs, Managing Director of the DAK Group, who led the deal team along with Sheon Karol, Managing Director and Melvyn Peters, Vice President.
DAK ran a marketing process that resulted in Yorktel being selected as the stalking horse and, ultimately, the successful bidder in a 363-sale. Yorktel, through a newly formed, wholly-owned subsidiary York-VCA, LLC, purchased substantially all of VCA’s assets. “Working with our client, we ensured the continuation of a business that had experienced a downturn by identifying the underlying value of the business and then made a strategic decision to run the sale through a Chapter 11 filing,” said Karol.
DAK helped the VCA purchase come about by tapping into its base of middle-market contacts to find a buyer that would make sense and would benefit all parties involved.
“I am delighted to have the opportunity to bring the team at VCA over to Yorktel,” commented Dave Berlin, president, VCA. “Both our companies share the same values, long history and commitment to customer success. I am proud to be able to bring VCA’s legacy of technical innovation, deep domain expertise and strong customer relationships to Yorktel.”
Founded in 1972, VCA has a history of providing audiovisual, post-production and broadcast, digital signage and unified communications solutions and support services.