MINNEAPOLIS, MINNESOTA – Quazar Capital Corporation is pleased to announce that our client, Passe Inc, a holding company formed by the management, has acquired Dunham Express.
THE COMPANY – Dunham Express, founded in 1951, is a package delivery company offering same-day and next-day distribution in Minnesota, Wisconsin, Illinois, Indiana, Iowa, and the Upper Peninsula of Michigan.
THE TRANSACTION – Scott Passe, new President, had been the company’s Chief Operating Officer. Mr. Passe joined Dunham Express in 2005.
Mr. Passe has more than 25 years of experience working in the transportation industry. His career began when he worked as a delivery driver during college.
Mark McDonald, selling majority shareholder, had been on the company’s management team when he acquired Dunham in 1997.
“Having acquired the company as a manager myself 15 years ago, I am glad for the opportunity to sell Dunham Express to Scott. I have every confidence that he will continue to serve the company well and excel in his new role,” said Mark McDonald.
Mr. McDonald remains a minority shareholder.
QUAZAR’S ROLE – Quazar Capital Corporation’s role included advising Passe, Inc. on the negotiations, coordinating the deal, and sourcing financing.
“I truly feel Quazar was critical to my successful acquisition of Dunham Express. Quazar was also invaluable in educating and guiding me through the acquisition process,” said Scott Passe of Passe Inc.