Acquisitions, organic growth and a rebranding

AEG Acquires Abell Elevator International

American Elevator Group (AEG) continued its growth in May with the acquisition of Abell Elevator International, which serves customers throughout Kentucky and North Carolina. Headquartered in Louisville, Kentucky, Abell Elevator was founded in 1910. It was acquired by industry veteran Kent Lloyd in 1976. The company specializes in installation, maintenance, modernization and repair of all types of vertical-transportation equipment, with a particular focus on energy-efficient, environmentally responsible elevators. Abell Elevator is led by Kent Lloyd’s son, David Lloyd, who serves as president. David Lloyd’s brother, Draka Elevator/Prysmian President Sterrett Lloyd, stated:

“I have personally known the AEG leadership team for many years. I am delighted that Abell Elevator has determined that the next chapter of their development will be with a group committed to building upon our well-established legacy of excellent technical service and expertise.”

TKE Acquires Albany Elevator in New York’s Capital Region

TKE has acquired Albany Elevator, a leading provider of modernization, maintenance, repair and installation services in the Albany, New York, capital region for the past 21 years, the company announced in May. Terms of the deal were not disclosed, but Lift Business Advisors facilitated the transaction on behalf of Albany Elevator. The acquisition gives TKE a strong presence in the New York capital region as it transitions Albany Elevator into a newly established TKE Albany branch, one of more than 150 branches TKE has across North America. All Albany employees have been offered the opportunity to join TKE, and the company’s founders, Chuck and Grace Campbell, will stay on in an interim basis while their son, Jonathan, will assume an operational leadership role and their daughter, Jessica, will assume an office management role within TKE.

Founded in 2000 by Chuck Campbell, a long-time NYC elevator man and his wife, Grace, Albany Elevator (now TKE) will continue to provide elevator services to a variety of buildings in the Capital District, including educational, commercial, residential, agricultural, paper manufacturing, military and research facilities. In recent years, TKE has been expanding its service and modernization footprint via key acquisitions across North America.

Urban Elevator Expands Florida Footprint With Acquisition

Urban Elevator, a privately owned, union, independent elevator service contracting firm headquartered in Cicero, Illinois, announced in May the acquisition of Aventura Elevator, based in Miami-Dade County, Florida. Maven Group represented Aventura Elevator in the transaction, which Urban Elevator completed through its subsidiary Urban Elevator Service FL. Serving clients in southeastern Florida since 2012, Aventura Elevator is a full-service elevator contractor specializing in installation, modernization, repair and maintenance of all types of vertical-transportation equipment. The acquisition expands Urban Elevator’s presence in the Miami-Fort Lauderdale corridor. “Allen Steed built Aventura Elevator to be known for its dedication to customer service and safety,” Urban Elevator co-CEO Tim Cook said. “We look forward to continuing Allen’s legacy. . .and are excited to add Aventura’s employees to our team.”

Schindler Acquires Denver-based CES

Schindler has acquired Denver-based Colorado Elevator Solutions (CES), Florida-based Maven Group LLC, which facilitated the transaction, announced in May. CES founder and principal Scott Brugh said he is proud of the portfolio CES has built in the Denver area over the years. “With the addition of Schindler’s engineering expertise, we hope to provide the best of both worlds to our employees and customers going forward,” Brugh said, praising the “competitive bid process and due diligence” arranged by Maven. Lape Mansfield Nakasian & Gibson LLC served as legal advisor to Schindler, and FR Law Group acted as legal advisor to CES.

Draka Elevator, EHC Global to Rebrand as Draka EHC

Draka Elevator and EHC Global, a brand of the Prysmian Group, announced in April plans to rebrand as “Draka EHC.” Draka EHC provides a comprehensive portfolio of value-added products, services and integrated solutions for elevators, escalators and moving walks. Draka offers cables, suspension means (wire rope, coated steel rope, coated steel belts), compensation chains, wireway, specialty tools, hardware, and components for new installations, modernizations and repair markets. EHC is a leading manufacturer and supplier of escalator handrails, UV-C handrail sterilizers, safety brushes, rollers, elevator belts, strategic components and integrated solutions. EHC also provides a comprehensive range of technical services to OEMs including field-splicing, service, project management, and assembly, installation, removal and modernization of escalators and moving walks, for both the new construction and modernization markets.

Specialized Elevator Services Expands California Reach

Specialized Elevator Services (SES), an independent company providing maintenance, repair and modernization, has expanded its reach in California with a new Sacramento office, the company announced in May. Serving customers throughout the Sacramento area, the office is led by District Sales Manager Rachel Jones. Servicing most major brands, SES has additional offices in San Diego, Los Angeles/Orange County/Inland Empire and San Francisco. “The chance to work with an independent service company will provide elevator owners and managers with more choices in the Sacramento market,” Jones said. The new office can be reached at 916-792-5414.

KONE Escalators Kill COVID at Reno Casino

The casino Atlantis in Reno, Nevada, recently had three KONE escalators installed that feature germ-killing devices on the units’ handrails, KOLO 8 reported in May. “It’s all brand new,” said David Johnson of KONE. “It’s got a light that wraps around the handrail: One at the top and one at the bottom end. What it does is the handrail goes through that every minute.”

Added Perry Sanders, director of casino facilities, “That (the lights) kill 99.99% of all viruses and bacteria: SARS, MERS, COVID, so that is primarily what drove our decision (to get the machines). These are the only ones in Nevada.” Sanders worked with Johnson to bring this unique technology to Reno. The escalators look ordinary, but the features inside them are special, the pair said.

Keeping people safe is just one benefit of the new escalators. They’re also more efficient, saving Atlantis about 35% on its escalator energy bill. And, because the escalators don’t have chains that need oil, the machines also won’t have to be shut down as often for routine cleaning. That’s a benefit to the thousands of people who walk through the casino each day.

While there is light at the end of the tunnel in this pandemic, Johnson said the new escalators will always have value.

“There’s always new strains coming out so this will kill anything that comes out.” Plans are in place to have the other eight escalators around the property changed out to the new UV light KONE models.