Element Elevators Acquires Toronto-Based Vertex Industries

Element Elevators Inc., headquartered in Richmond Hill, Ontario, acquired longtime Toronto-based elevator service and manufacturing company Vertex Industries Inc., Element announced on July 12. Vertex’s elevator service division and technicians will be absorbed into Element’s service and maintenance division, led by Service Director Florin Rus. Vertex’s manufacturing division will be rebranded under the Element umbrella as VertCo, providing parts, components and controllers — among other items — to customers in the U.S. and Canada. “We look forward to entering the industry of elevator components manufacturing,” Element Vice President of Operations Bogdan Rus said. “This will be a stepping stone for Element’s growth and expansion plans within this sector.”