Matrix Advises on the Sale of Dana Safety Supply, Inc. to AEA Investors

October 16, 2024 at 13:40 PM EDT

News Source: Matrix Capital Markets Group Inc.

DSS is the premier provider of emergency vehicle equipment, installations, tactical gear and related accessories to the emergency services market

RICHMOND, Va., and BALTIMORE, Md., Oct. 16, 2024 (SEND2PRESS NEWSWIRE) – Matrix Capital Markets Group, Inc., a leading independent investment bank, is pleased to announce the sale of Dana Safety Supply, Inc. (DSS) to AEA Investors. Prior to the sale, DSS was a wholly-owned subsidiary of Scott McRae Automotive Group, LLLP (SMAG).

Image caption: Matrix Capital Markets Group, Inc.

DSS is the premier provider of emergency vehicle equipment, installations, tactical gear and related accessories to the emergency services market. With 40 locations nationwide, they have grown into the go-to source for vehicle upfitting and tactical gear services for local, city, state, and federal departments, as well as fleet managers, dealerships, and non-department fleet operators. Founded in 2005 and acquired by SMAG in 2010 with just six locations, the company has grown to its present scale through both organic (greenfield) and acquisitive expansion. Leading the charge since the time of the acquisition has been David Russo, Chief Executive Officer of DSS. Mr. Russo is one of the most experienced and respected professionals in the emergency services marketplace and has guided the company to its current position as the largest vehicle upfitter in the industry, with over 500 valued employees supporting operations.

Regarding the transaction, Mr. Russo commented, “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.”

He added, “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.”

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, CPA, Vice President, and David Shoulders, Managing Director.

Regarding Matrix’s services, Jeff Curry, Chief Executive Officer of SMAG, noted, “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.” He added, “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!”

“We were honored to represent SMAG and DSS in this important transaction,” Mr. O’Flaherty noted. “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.”

Smith Hulsey & Busey served as legal counsel for DSS and SMAG. CohnReznick LLP provided accounting advisory services to the company.

About Matrix Capital Markets Group, Inc.

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix’s advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions.

Our industry focused, dedicated sector advisory groups serve clients in the automotive aftermarket, downstream energy & convenience retail, healthcare and outdoor recreation & marine markets. Our broad sector advisory groups serve clients in a wide range of industries including business services, consumer, diversified industrials, restaurants and transportation & logistics. For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Matrix Capital Markets Group, Inc., Gateway Plaza | 800 East Canal Street, Suite 850 | Richmond, VA 23219

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Matrix Advises on the Sale of Dana Safety Supply, Inc. to AEA Investors

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