Golden Gate Adds to GAL

GAL Manufacturing, a portfolio company of Golden Gate Capital, has acquired Elevator Controls Corporation.

Elevator Controls Corporation is a manufacturer of non-proprietary, microprocessor-based elevator controls with over 35,000 units in service worldwide. The company was founded in 1986 by brothers Fernando Ortiz (President & CEO) and Francisco Ortiz (VP Product & Support) and is headquartered in Sacramento, CA (www.elevatorcontrols.com).

Under GAL Manufacturing ownership, Elevator Controls will continue to be led by Fernando and Francisco Ortiz and will remain headquartered in Sacramento.

Golden Gate acquired GAL Manufacturing, a designer, manufacturer, and distributor of elevator components and systems, in June 2017. GAL supplies nearly every electromechanical component used in elevator systems, including door operators and associated door equipment, geared and gearless traction machines, universally compatible microprocessor controllers, safety components, signal fixtures, push-button panels, structural assemblies, freight door systems and hydraulic equipment, including pumps and jack systems.

GAL sells its products to thousands of independent elevator contractors and large elevator OEMs. The company is headquartered in Bronx, NY, with additional facilities in Quincy, IL, Mississauga, ON, and St. Louis, MO. GAL is comprised of GAL Manufacturing Company, Hollister-Whitney Elevator, GAL Canada Elevator Products, Courion and Bore-Max (www.GAL.com) (www.hollisterwhitney.com) (www.GALCanada.com) (www.couriondoors.com) (www.bore-max.com).

“Elevator Controls is an important addition to GAL’s group of companies,” said Mark Boelhouwer, President and CEO of GAL. “They bring a superb range of products, services and design expertise that will add significant value to our business. With our teams working in unison, we will provide continued expansion of our product and service offerings across North America.”

The buy of Elevator Controls is the third add-on completed by GAL in 2018. In January 2018, GAL completed the add-on acquisition of St. Louis-based Comprehensive Manufacturing Services, a provider of door systems for freight elevators; and in March 2018 it acquired the assets of Bore-Max Corporation, a maker of heavy-duty hydraulic passenger and freight elevator components.

Golden Gate Capital invests in companies across a range of industries and transaction types, including going-privates, corporate divestitures, recapitalizations, and public equity investments. The firm has approximately $15 billion of capital under management and is based in San Francisco (www.goldengatecap.com).

© 2018 Private Equity Professional | June 11, 2018

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