ESI Acquires New Orleans-Based Bounds Elevator

Elevator Service LLC (ESI) has acquired Bounds Elevator, an independent service provider in the New Orleans market, from its owner and founder Tim Bounds. This investment marks ESI’s seventh add-on acquisition in the last two years and the second in the Southern Louisiana and Mississippi markets following the acquisition of A-1 and Pinnacle Elevator in October 2023. Bounds was founded in 2019 by Tim Bounds, a 25-year industry veteran and New Orleans native, who will join ESI’s local leadership team together with Justin Schulte, Mike Luscy, Darrin Loup and Mike Lizana. Bounds will join A-1 and Pinnacle Elevator to create ESI’s combined platform in the New Orleans market. ESI completed its investment in Bounds with financial backing from Carroll Capital. Ice Miller served as legal counsel to ESI and Carroll Capital on the transaction, with FTI serving as accounting advisor. The Bank of Montreal (BMO) provided debt financing to ESI.