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Acquisitions

KONE Acquires Detroit Elevator Co.

By Elevator World | June 3, 2021

KONE announced on June 1 that it has acquired the service and repair business of Detroit Elevator Co. in Ferndale, Michigan, including its operations throughout the greater Detroit area and stretching north and west to Flint and Grand Rapids. Detroit Elevator, founded in 1914, built its business on performing service, new installation, modernization and repair…

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TKE Expands Canadian Presence with trio of Acquisitions

By Elevator World | June 1, 2021

TKE expanded its reach in Canada with the acquisition of three Ontario companies specializing in elevator modernization, service and repair: Bay Elevator Ltd. of North Bay, Direct Elevator Service Ltd. of Barrie and True Canadian Elevator Maintenance Co. of Etobicoke, the company announced on May 26. The move brings more than 100 new employees to…

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Urban Elevator Expands Florida Footprint with Acquisition

Urban Elevator Expands Florida Footprint with Acquisition

By Elevator World | May 19, 2021

Urban Elevator, a privately owned, union, independent elevator service contracting firm headquartered in Cicero, Illinois, announced on May 18 the acquisition of Aventura Elevator, based in Miami-Dade County, Florida. Maven Group represented Aventura Elevator in the transaction, which Urban Elevator completed through its subsidiary Urban Elevator Service FL. Serving clients in southeastern Florida since 2012,…

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AEG Acquires Abell Elevator International

AEG Acquires Abell Elevator International

By Elevator World | May 6, 2021

American Elevator Group (AEG) announced on May 3 the acquisition of Abell Elevator International, which serves customers throughout Kentucky and North Carolina. Headquartered in Louisville, Kentucky, Abell Elevator was founded in 1910. It was acquired by industry veteran Kent Lloyd in 1976. The company specializes in installation, maintenance, modernization and repair of all types of…

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Schindler Acquires Denver-Based CES

Schindler Acquires Denver-Based CES

By Elevator World | May 5, 2021

Schindler has acquired Denver-based Colorado Elevator Solutions (CES), Florida-based Maven Group LLC, which facilitated the transaction, announced on May 4. CES founder and principal Scott Brugh said he is proud of the portfolio CES has built in the Denver area over the years. “With the addition of Schindler’s engineering expertise, we hope to provide the…

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TKE Acquires Albany Elevator in New York’s Capital Region

By Elevator World | May 4, 2021

TKE has acquired Albany Elevator, a leading provider of modernization, maintenance, repair and installation services in the Albany, New York Capital Region for the past 21 years, the company announced on May 3. Terms of the deal were not disclosed, but Lift Business Advisors facilitated the transaction on behalf of Albany Elevator. The acquisition gives TKE a strong…

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NYC’s Champion Elevator Acquires ARCTEC Elevator Service

NYC’s Champion Elevator Acquires ARCTEC Elevator Service

By Elevator World | April 14, 2021

Champion Elevator Corp., headquartered in Manhattan, has acquired ARCTEC Elevator Service, Inc., a NYC-based provider of elevator service, repair, modernization and inspection, Champion announced in early April. Specializing in mid-market elevators in the NYC area, ARCTEC was founded in 1996. Former owners Chris Liakos and Renzo Carcich are introducing employees and customers and handling day-to-day…

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Right Way Elevator Joins American Elevator Group

By Elevator World | April 8, 2021

American Elevator Group (AEG) has confirmed its investment in Florida-based Right Way Elevator Maintenance as the first of several planned acquisitions throughout the southern United States, the company announced on April 6. Established in 2012, Right Way specializes in maintenance, modernization and repair of all types of elevators. Led by company President and CEO Ryan…

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Elevator World | June 2021 Cover

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