Otis UK Sells Liftec Express to Rcapital Partners

Otis UK announced on June 2 the sale of its 100% shareholding in Liftec Express Ltd. to Rcapital Partners LLP. DC Advisory advised Otis on the transaction, the terms of which were not disclosed. Liftec Express is a U.K. entity that resulted from the acquisition by Otis of five independent lift service providers over the past 25 years. DC Advisory said it leveraged its deep knowledge in the industrial sector and experience in the lift maintenance sector to prepare sales materials and negotiate key commercial terms alongside legal counsel. The transaction, according to DC Advisory, further strengthens its relationship with Otis, having previously advised on its divestment of its Republic of Ireland businesses. Otis Vice President and General Manager UK & Nordics Aleš Korotvička said the sale will allow Otis UK to concentrate on growth of its core U.K. business and customer service that supports long-term relationships.