TEC Elevator and 3Phase Elevator Announce Merger

TEC Elevator, Inc. (TEC) announced that it has merged with the 3Phase Elevator Corp. family of independent elevator companies, expanding the company’s presence in the Philadelphia, New Jersey and Delaware market areas. The TEC merger enables 3Phase and its major brand in the region, Excel Elevator & Escalator, to grow its service offerings and deepen its presence across the region. TEC is a full-service elevator company based in Pennsauken, New Jersey. The merger will empower TEC with greater technical capabilities, broader product versatility, greater financial strength and broader insurance coverages. The existing TEC team, led by Dave Hollingsworth, Rich McCormick and Jim McCabe, will continue to manage local operations and be available to its customers. 3Phase is a leading independent elevator and escalator services provider with offices across the U.S. Harvey & Co. served as financial advisor to 3Phase for this transaction.