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Oracle Elevator Closes Four Acquisitions in Maintenance, Modernisation Space
Wednesday 14 February 2018

14 February 2018 - US-based elevator maintenance, repair, and modernisation services provider Oracle Elevator has closed four acquisitions in addition to the company's previously reported acquisitions of Daytona Elevator and Florida State Elevator earlier in 2017, the company said.

All six acquisitions completed within the last ten months provide elevator maintenance, repair and modernisation services and will enhance Oracle's position as an independent alternative to the Big Four elevator manufacturers.

Specifically, the company has closed the acquisition of SCS Elevator (Florida), Texas Independent Elevator and Premier Elevator Services (Texas), and Triangle Elevator (North Carolina).

The acquisition of SCS Elevator further expands Oracle's footprint in central and south Florida, and the operations will be added to the company's existing branches in Orlando, Tampa, and Palm Beach.

The acquisitions of Texas Independent Elevator and Premier Elevator Services will increase Oracle's presence in the Dallas Fort Worth region.

Oracle also completed an acquisition in North Carolina, Triangle Elevator, and will open its second office in North Carolina as it seeks to expand its geographic footprint.

With 25 branches across 13 states, Oracle is the largest independent provider of elevator maintenance, repair, and modernisation services across all major brands of equipment.

Since its founding, Oracle has completed 23 acquisitions of independent elevator companies.

The company was founded in 2004 and currently operates 25 branch locations across 13 states. Oracle is backed by family office investors in partnership with employee shareholders.
Details
Date Published: 14/02/2018
Target: SCS Elevator (Florida), Texas Independent Elevator and Premier Elevator Services (Texas), and Triangle Elevator (North Carolina)
Country: USA
Sector: Construction/Real Estate
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Oracle Elevator
Comment:
Terms of the deal were not disclosed

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