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3Phase Elevator Acquires Excel Elevator to Expand Operations to 10 States
Monday 13 January 2020

13 January 2020 - Massachusetts-based elevator/escalator equipment repair company 3Phase Elevator Corp. has acquired New York-based Excel Elevator and Escalator Corp, the company said.
The deal expands the 3Phase vertical transportation business to cover New Hampshire, Massachusetts, Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, Virginia, and Florida.
Terms of the transaction were not disclosed.
3Phase Elevator's expansion to cover 10 states reflects the execution of a long-term strategy to become the leading independent elevator company in the United States.
In August 2018, 3Phase expanded its presence in New England through the add-on acquisition of Allied Elevator Corp.
BMO Sponsor Finance provided debt financing for the transaction. Kirkland and Ellis and WilliamsMarston advised 3Phase and Fort Point. Pullman and Comley and Maven Group advised Excel.
3Phase Elevator is a New England-based independent provider of maintenance, modernisation, and repair services for all major brands of elevator and escalator equipment.
Fort Point Capital is a private equity firm that invests in lower middle market, service-oriented companies in partnership with strong management teams.
Date Published: 13/01/2020
Target: Excel Elevator and Escalator Corp
Country: USA
Sector: Construction/Real Estate
Type: Corporate acquisition
Status: Closed
Buyer: 3Phase Elevator Corp
Terms of the deal were not disclosed