With decades of collective experience, our Mergers and Acquisitions Advisory Team led by Alan Scharfstein, our strategic partner at The DAK Group, is comprised of industry experts that manage the entire sale process with only the business owner’s best interest in mind. From marketing your business to a pool of buyers, to negotiating, due diligence and close, we advise you every step of the way.
CEO The DAK Group M&A Division
Alan Scharfstein is the Founder and CEO of The DAK Group a strategic partner of Legacy Partners Worldwide, LLC. A trusted advisor to thousands of middle market business owners for over 40 years. He guides clients as they navigate strategic options for growth and expansion, as well as to pursue successful exit strategies (full or partial sale of their business).
Mr. Scharfstein is a frequent lecturer on the sale of privately held businesses, valuation and negotiation strategies. He has been quoted and written about in such publications as the Wall Street Journal, Business Week, Financial Times and Time.
Alan is an avid cyclist and believes that the steeper the climb, the more enjoyable the ride!
Mr. Scharfstein received a BS in Economics and MBA from the Wharton School of the University of Pennsylvania and holds a Series 7, 17 and 24 licenses.
Managing Director
Ari Fuchs is an integral part of the client service team where he specializes in the analysis and execution of M&A transactions, as well as equity or debt capital raises, restructuring and strategic corporate advisory services.
Mr. Fuchs has more than 15 years of corporate finance experience and has advised both private and publicly-held clients on more than 75 M&A, financing and restructuring transactions totaling in excess of $1.5 billion in aggregate value.
Mr. Fuchs received a Bachelor of Science from Yeshiva University’s Sy Syms School of Business where he was on the Dean’s Honor List. He holds the Series 7, Series 63 and Series 79 FINRA securities industry registrations. He has been named to NJBIZ’s 2018 40 Under 40 awards program honoring professionals who have a commitment to business growth, professional excellence and their community.
He is also the recipient of the 2018 Emerging Leader Award by The M&A Advisor, an organization renowned globally for its recognition of leading M&A, finance and turnaround professionals. Mr. Fuchs is originally from Montreal, and is fluent in French.
Managing Director
Jason Bernstein is a trusted advisor to owners and stakeholders of middle market companies on mergers and acquisitions. He combines over 30 years of deep M&A transaction and senior operational experience with a balanced, strategic vision to bring a higher level of sophistication and a global perspective to middle market clients.
Jason has a rich background in mergers and acquisitions, having completed over 50 strategic transactions across five continents. Most recently he was a Managing Director at B. Riley (RILY) Financial, a global middle market investment bank.
Jason is involved in his community as a volunteer coach for junior hockey and mentoring veterans’ entry into the workplace through Bonds of Courage. He is an active athlete, playing competitive tennis and ice hockey, cycling and skiing.
Jason holds FINRA Series SIE, 79, 63 and 24 licenses. He earned an MBA with honors from the University of Chicago’s Booth School of Business, and a Bachelor of Arts degree in economics from Middlebury College.
Managing Director
Michael Richmond works directly with middle-market business owners as they explore the sale of their companies or consider an acquisition.
Michael has a strong history of successfully guiding his clients through mergers and acquisitions and joint ventures in a broad range of industries, including manufacturing, distribution, health care, pharma, retail, and technology. Michael’s clients have benefited from his strategic advisory services and transactional proficiency. He is a skilled negotiator and works closely with his clients to obtain the maximum value for their companies.
Michael holds Series 7 and 79 licenses. He received an MBA from New York University and his BA from Brooklyn College.
Managing Director
Milton Kahn has a strong history of working closely with mid-market family-owned companies as a trusted advisor and CPA. He brings many years of experience guiding clients through strategic planning, business succession, mergers, acquisitions, sales of business and financing.
Prior to joining DAK, he was a practicing CPA for over 40 years. Most recently, as a Partner in the Private Business Services Group of EisnerAmper, one of the largest CPA firms in the region, where he assisted many companies prepare their business for sale.
Milton believes in giving back to the community and has served on numerous boards including Alpine Learning Group, serving children & adults with Autism, Temple Beth El of Northern Valley, Foundation at Bergen Regional Medical Center, Franklin Pierce University, Adler Aphasia Center, Jewish Home at Rockleigh, Jewish Home Family and The Melik-Baschkopf Foundation. He resides in Hillsdale, NJ with his wife, Jan.
Managing Director
Stephen Raymond brings more than 25 years’ experience working directly with middle market, closely held business owners, as they explore the sale of their companies, consider an acquisition or need overall M&A Advisory assistance.
His experience spans a wide spectrum of industries such as: manufacturing, distribution, health care, and technology, providing clients with strategic advisory services and transactional proficiency.
Steve holds a Masters of Business Administration, with an Accounting concentration from Drexel University and a BA degree in Economics and Japanese Studies from Bucknell University. In addition he is registered with FINRA for both Series 79 and Series 63.
Steve has recently been appointed President of the Bucks County Chapter of Legatus International, a catholic business organization of which he is a founding chapter member, a member of The Union League of Philadelphia and The Knights of Columbus. Steve and his family live in Moorestown, NJ.
Director
Andrew Mabey has a rare combination of M&A and operational skills developed from working as both an Investment Banker, as an executive in an operating company and at a Private-Equity backed roll-up as the Head of M&A.
An integral part of DAK’s Transaction Team, Mr. Mabey advises middle market businesses owners on the best strategies to use to generate the maximum value for their company. He leverages his diverse experience, and hands-on expertise to the advantage of his clients.
He earned his Bachelor of Arts from Yale and lives in New Jersey with his wife and two sons.
Director
Derek Zacarias works closely with business owners to bring them the benefit of his deep financial acumen and comprehensive industry knowledge to ensure clients maximize the value of the businesses they have spent so much time building.
Mr. Zacarias brings over a decade of experience in investment banking across a wide array of industries as a Director with Perella Weinberg Partners (PWP), a diversified Boutique Investment Bank, in both their New York and Chicago offices.
Mr. Zacarias holds a bachelor’s degree in Finance and International Business from Indiana University’s Kelley School of Business. In his spare time, he likes to practice his photography, hike, and travel internationally with his wife.
Director
Elyse Greenbaum leads the execution team for buy side and sell side transactions as well as valuations and recapitalizations. Elyse’s fine- tuned financial acumen provides clients with information and analysis to make solid decisions as she guides them through every step of the transaction process, strategically engineered to maximize value.
Prior to joining DAK, Ms. Greenbaum headed ERG Consulting, a financial advisory firm she founded. Prior to that, she was Director of Customer Finance for Lucent Technologies.
Ms. Greenbaum holds an MBA in Finance from The Wharton School at the University of Pennsylvania, and an BA in Economics from Cornell University and is a certified valuation analyst (CVA) and holds a Series 79 license.
Director
Greg Leshik is a key member of DAK’s transaction execution team, leveraging extensive expertise to manage each phase of the M&A transaction lifecycle to maximize value for his clients at closing.
Greg has more than 13 years of investment banking experience advising middle market clients in successfully navigating the M&A and equity and debt capital markets.
Greg graduated cum laude from Villanova University where he earned dual Bachelor of Science in Business Administration degrees in Business Honors and in Finance, with an International Business co-major and a Business Law & Corporate Governance minor. He also completed a certification at the University of Cambridge Institute for Sustainability Leadership. Greg holds Series 63 and Series 79 FINRA licenses.
Greg was born in New Jersey, grew up in Connecticut, attended school near Philadelphia, lived in New York City, and is thrilled to return to his Jersey roots by living in New Jersey and representing The DAK Group.
Director
Jonathan Roth is deeply vested in understanding and working hand-in- hand with business owners in the middle market. He plays a key role in managing all aspects of buy-side and sell-side analysis and transactions.
Jonathan brings over 25 years of business management experience with 15 years in Mergers & Acquisitions and Equity & Debt Capital markets.
Prior to investment banking, Jonathan was a co-founder and C-level operator of two venture-backed startups in the financial services software and online healthcare sectors.
Jonathan graduated with a B.A. from Columbia College, Columbia University and an MBA in Corporate Finance from Columbia Business School, Columbia University. In addition he is registered with FINRA for the Securities Industry Essentials Exam (“SIE”), the Series 7, Series 82 and Series 63.
Our process driven approach in creating a personalized seller’s exit strategy systematically will lead you through all the milestones to successfully sell your business with the best possible outcome.
Contact Legacy Partners to learn how we can help sell your business.
Legacy Partners works in your best interests to execute a successful sale and we only represent sellers in the transaction. When our clients are well-positioned to go to market, we guide them through the execution of their personalized exit strategy.
Identify the Appropriate Buyer:
We analyze the buyers in our extensive network and identify a buyer pool that will meet your goals. A competitive auction drives deal value and your list may include financial, strategic, and private investors that are actively pursuing investment opportunities in your industry.
Develop the Marketing Collateral:
The preparation of the sales documents is a critical gate as the information presented must not only be accurate, but also compelling in order to drive buyer interest. We excel in providing the information in a way that will get your business noticed. Documentation will include a Confidential Business Profile (CBP) – often referred to as an Executive Summary or Teaser – which presents a high-level overview of your business, highlighting key financial information with a strong emphasis on growth potential. The purpose is to drive interested buyers to sign a Non-disclosure Agreement (NDA) and requesting a Confidential Information Memorandum (CIM). This important document relays detailed information so the buyers can determine if your business meets their investment criteria.
Call For Offers:
Once your marketing collateral has attracted their attention the most interested investors will issue an Indication of Interest (IOI). This is a non-binding agreement issued in the form of a letter that communicates a buyer’s interest in purchasing your business. This provides our clients with a baseline for price and terms and serves as a checkpoint to analyze the seriousness of all potential buyers.
Conduct Management Meetings:
This introductory meeting affords you the opportunity to meet all potential buyers and begin the process of evaluating their intentions and cultural fit. These meetings also provide additional information to the investor so they can refine their offer and prepare a Letter of Intent (LOI). This is a non-binding offer that outlines the fundamental terms of the deal.
Analysis of Offers and Negotiation:
Price, deal structure, and terms are rigorously negotiated before the client authorizes the LOI. Our team analyzes each offer and calculates the tax impact so that you understand the net amount you will receive at closing. We then will also revise your financial plan including the terms of the deal so you will be able to understand the impact of the upcoming liquidity event on your financial future.
Manage Due Diligence:
Once the buyer has been selected and you have signed the Letter of Intent the due diligence process begins. This stage in the process allows the buyer to validate that everything that has been presented is accurate. Since this step is very involved, we manage the entire process so can focus on your business.The buyer typically uses a third-party firm who will perform a financial review of your historical earnings and future projections. This provides the buyer with a Quality of Earnings report. Additionally, there may be several specialists, dependent upon your business, who will analyze the following: property matters, personnel, legal, intellectual property, insurance, government, general corporate matters, environmental, and compliance. This thorough analysis is why we begin preparing for due diligence the moment we begin the valuation, ensuring that you are ready for this stage and the deal gets done.
Manage the Close:
Your deal will be closed and memorialized with a Definitive Purchase Agreement (DPA) or Stock Purchase Agreement (SPA), which is a legal and binding document drafted by the buyer. This supersedes all previous discussions and documents, including the IOI, if received, and the LOI. Included in this document will be a Warranties, Representation, and Indemnification (WRI) section, which will be robustly negotiated by your M&A Advisory team. After closing the funds are directly deposited into your investment accounts according to your financial plan and wealth management strategy.
We provide Mergers and Acquisitions Advisory Services to Businesses with EBITDA greater than $1.0MM
Here are just a few of the industries we serve, if you don’t see your industry, just reach out.