ESI Announces Partnership To Enter Southeast Region Markets

Elevator Service LLC (ESI) announces it has entered into a partnership with A-1 Elevator Service and Pinnacle Elevator, the leading independent service providers in the southern Louisiana and Mississippi markets. This investment is ESI’s fifth add-on acquisition in the last two years. ESI now operates in 10 markets: nine Midwestern markets, plus New Orleans as its 10th, which marks the launch of ESI’s growth strategy in the Southeast region. A-1 Elevator was founded in 2008 by 30-year industry veteran Gary Songy, after he saw a need for a high-quality service provider after Hurricane Katrina. Pinnacle Elevator was founded in 2016 by Mike Luscy, also a 30-year industry veteran. A-1 and Pinnacle partnered with Justin Schulte and Search Fund Accelerator in 2020 and 2022. Schulte will continue leading A-1 and Pinnacle in his role of president and will become a shareholder in ESI. Songy and Luscy will continue to be active in the business, as well. ESI completed its investment in A-1 and Pinnacle with financial backing from Carroll Capital, which originally invested in ESI in 2019. Ice Miller served as legal counsel to ESI and Carroll Capital on the transaction, with FTI serving as accounting advisor. The Maven Group advised A1 and Pinnacle during the transaction. The Bank of Montreal (BMO) provided debt financing to ESI.