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Acquisitions
Otis Finalizes Dealto Fully Acquire Spanish Company

Otis Finalizes Deal to Fully Acquire Spanish Company

By Elevator World | December 28, 2021

Otis Worldwide Corp. announced on December 21 it has finalized an agreement to purchase Madrid-based Zardoya Otis, a company in which it already had a partial stake. Otis’ subsidiary, Opal Spanish Holdings, reached an agreement to fully purchase Zardoya Otis in a deal valued at EUR3.39 billion (US$3.83 billion). The deal, which is still subject to…

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3Phase Merges Gable To Expand Its VT Service

3Phase Merges Gable To Expand Its VT Service

By Elevator World | December 28, 2021

3Phase Elevator has absorbed Ohio-based Gable Elevator in a merger, the Canton, Massachusetts, vertical-transportation (VT) company reported on December 22. Gable, a provider of elevator maintenance, repair and modernization services, has centers in the Cleveland and Columbus markets. The merger will give 3Phase a strong presence in Ohio, part of the company’s national expansion. Gable…

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NYC-Based Champion Elevator Acquires New Jersey’s Infinity Elevator

NYC-Based Champion Elevator Acquires New Jersey’s Infinity Elevator

By Elevator World | December 9, 2021

Champion Elevator, headquartered in Manhattan with locations in Connecticut, New Jersey and Long Island, announced it has acquired INFINITY Elevator Co., Inc, based in Little Ferry, New Jersey. Champion described the acquisition as the foundation for its New York and New Jersey expansion plans. The move brings the number of elevators maintained monthly by Champion…

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New York-Based USSG Acquires New Jersey-Based Transcope

New York-Based USSG Acquires New Jersey-Based Transcope

By Elevator World | October 15, 2021

US Services Group, LLC (USSG), an industrial services company based in Deer Park, New York, announced on October 7 the acquisition of Randolph, New Jersey-based Transcope Services, LLC, a carrier specializing in transportation, warehousing, rigging and logistics, primarily for manufacturers and installers of elevators, escalators and moving walks. Founded in 1964, Transcope partners with domestic…

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Correction: Berkshire Partners Acquires 3Phase From Fort Point Capital

By Elevator World | August 26, 2021

A recent news item contained an incorrect headline. In early June, 3Phase Elevator was acquired by Boston-based Berkshire Partners from existing investor Fort Point Capital. The investment will allow 3Phase Elevator to grow throughout the U.S., as it has with six previous acquisitions of independent elevator and escalator service providers, four of which occurred in…

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Marine Innovations Adds New Hampshire Dealer

Marine Innovations Adds New Hampshire Dealer

By Elevator World | August 19, 2021

Frazee, Minnesota-based inclined elevator provider Marine Innovations, Inc., has added Gilford, New Hampshire-based Winnipesaukee Island Services, LLC (WIS) as a dealer. Founded in 2009, WIS specializes in residential construction, mooring services, dock installation and maintenance for homeowners throughout New Hampshire. The company is now able to offer inclined lifts to its customers on Lake Winnipesaukee…

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Champion Strengthens N.J. Presence with Pair of Acquisitions

Champion Strengthens N.J. Presence with Pair of Acquisitions

By Elevator World | August 19, 2021

In 2021, Champion Elevator Corp., with headquarters in New York, Connecticut and New Jersey, strengthened its N.J. presence with a pair of acquisitions: Independence Elevator Co., a company led by Amy DiPaolo that serves customers in N.J. and northeastern Pennsylvania; and Payton Elevator Co., established in 1967 by Maureen, Tom and (past company president) John…

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Urban Elevator Service Acquires San Diego Company

Urban Elevator Service Acquires San Diego Company

By Elevator World | August 18, 2021

Urban Elevator Service, headquartered in Cicero, Illinois, has acquired Guardian Elevator Mechanical Services, a San Diego-based contractor specializing in installing, modernizing, repairing and maintaining all types of vertical-transportation equipment. Guardian has served clients across the San Diego metropolitan area since 2005. Announced on August 11, the acquisition was done through Urban Elevator Service’s California subsidiary…

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Cavinder Elevator Acquires National Elevator Service

Cavinder Elevator Acquires National Elevator Service

By Elevator World | August 9, 2021

Cavinder Elevator Co., based in Myrtle Beach, South Carolina, has acquired Fort Walton Beach, Florida-based National Elevator Services, Inc., Cavinder announced on August 1. Founded in 1974 by the late Marvin Ewing, National Elevator provides elevator manufacturing, construction and service throughout the Florida Gulf Coast. After Ewing’s passing, his family met with several companies interested…

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KONE Acquires Ohio-Based Ross Elevator

KONE Acquires Ohio-Based Ross Elevator

By Elevator World | August 9, 2021

KONE has acquired Ross Elevator Inc., a service, repair and modernization contractor in Eastlake, Ohio, the company announced on August 5. The acquisition includes operations in the greater Cleveland metropolitan area and south to Akron. Ross Elevator, founded in 1969, is known for high-quality work, the announcement said. With this acquisition, KONE will strengthen its…

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