Align’s Southwest Elevator Going Up

Southwest Elevator Company, a portfolio company of Align Capital Partners (ACP), has closed two add-on transactions through a merger with Action Elevator Company and the acquisition of Avery Elevator.

ACP acquired Southwest Elevator, led by CEO Tom Cavinder, in September 2019 as a first step in building a national and independent vertical transportation services (VTS) company.

According to ACP, the VTS sector is fragmented with many independent operators providing a wide range of non-deferrable, safety and compliance services. In addition to the buys of Action Elevator and Avery Elevator, Southwest Elevator recently opened two new branch locations in Las Vegas and Miami.

Action Elevator is a Baltimore-based provider of elevator modernization, maintenance, repair and new construction services for property owners and managers located in the Baltimore-Washington metropolitan area and in the Delmarva (Delaware, Maryland and Virginia) peninsula. Family-owned and operated Action was founded in 2012 by President John Marshall, Sr.

“Southwest is thrilled to partner with John, his sons and their talented team of employees to serve attractive markets,” said Mr. Cavinder. “Under John’s leadership, we’ll provide additional resources to the team and continue expanding geographically; both organically and through additional add-on acquisitions.”

Like Action Elevator, Avery Elevator is a provider of elevator maintenance and repair services in the Washington DC metro area. The business was founded in 1980 and is headquartered in Upper Marlboro, Maryland.

“Our management team is looking forward to partnering with Southwest and continuing our strong growth and unmatched legacy of excellent elevator service in the Mid-Atlantic region and beyond,” said Mr. Marshall. “Furthermore, we are very excited about the addition of Avery Elevator in our Washington DC market.”

“Align and Southwest are excited to welcome Action and Avery to the Southwest family of elevator service companies,” said Steve Dyke, a co-founder and managing partner at ACP. “We will remain focused on our aggressive expansion strategy and are enthusiastic about the opportunity to grow this exciting company.”

Southwest Elevator is headquartered in Fort Worth, Texas and provides its services to commercial offices, educational facilities, medical centers, museums, and restaurants throughout the Dallas-Fort Worth metropolitan area.

ACP makes control investments in companies that have from $3 million to $10 million of EBITDA. Sectors of interest include business services, technology, specialty manufacturing, distribution, and healthcare. The firm was founded in 2016 by managing partners Steve Dyke, Robert Langley, and Chris Jones – all formerly of The Riverside Company – and has offices in Cleveland and Dallas.

In addition to Mr. Dyke, the ACP deal team included Operating Partner Dave Perotti, Vice President Kurt Smentek, and Associate Walker Tiller.

Private Equity Professional | December 18, 2020

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