Sweden’s Cibes Lift Group Acquires Connecticut-Based ESC

Cibes Lift Group, a leading manufacturer of screw-driven, modular platform lifts headquartered in Gävle, Sweden, has acquired Elevator Service Co., Inc. (ESC), based in Torrington, Connecticut, and serving the Connecticut, New York, Rhode Island and Massachusetts markets. General Equity, a mergers and acquisitions advisor based in Dallas, handled the deal on behalf of ESC, which offers a wide range of home, platform and limited use/limited application lifts. The company also services, modernizes, maintains and tests lifts. ESC was founded in 2000 and has 25 employees. Following completion of the transaction, which closed on October 31, ESC will maintain its brand as a wholly owned subsidiary of Cibes. It will be led by newly appointed Managing Director Matthew Montgomery, previously ESC head of sales. Majority ESC owner and CEO Steven Roth will leave the company after supporting Montgomery through a transition period. Roth called the deal a win for employees and customers. Cibes CEO Per Lidström said ESC, under Cibes, “looks forward to delivering an even stronger product and service portfolio to new and existing customers.”