L Squared Capital Partners, together with Longview Asset Management, has partnered with Oracle Elevator management to recapitalize the latter company. Founded in 2004 with 22 branches across 13 states, Oracle is one of the largest independent providers of elevator maintenance, repair and modernization services across all major brands of equipment. L Squared’s investment provides a long-term capital base to support Oracle’s national expansion strategy through new branches and acquisitions.
Oracle plans to accelerate investment in its base of technicians and service representatives through professional development, as well as a new training facility. Since its founding, Oracle has completed 18 acquisitions of independent elevator companies. This transaction provides capital to continue Oracle’s acquisition strategy, helping to accelerate the expansion of its geographic footprint. Oracle represents L Squared’s sixth platform investment over the last three years. Financial terms of the transaction were not disclosed.
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