Thompson Street Capital Partners has invested in ATIS, a provider of elevator and escalator safety inspections, consulting, and managed services.
Many of the services offered by ATIS (Advanced Technology Inspection Services) include government-mandated inspections and test witnessing, condition and maintenance assessments, new build and design consulting, modernization and maintenance specifications, and total elevator asset management (TEAM) services, which include compliance tracking, maintenance oversight, and certificate management for large portfolios of equipment.
ATIS also offers a range of specialized services, such as due diligence assessments for real estate investors, door lock monitoring, and hydraulic oil testing, which are essential for maintaining the safety and efficiency of elevator systems. ATIS has over 15,000 customers and manages nearly 100,000 elevators across the United States and Canada, making it, according to ATIS, one of North America’s largest elevator and escalator safety inspections, consulting, and managed services providers. ATIS, led by its co-founder and CEO Chip Smith, was founded in 2012 and is headquartered in St. Louis.
“We’ve been tracking ATIS’ upward trajectory for some time and have been impressed with the unique platform they’ve built in the elevator inspection and consulting market,” said Tom St. Geme, a director at TSCP. “We’re thrilled to join forces with the ATIS team to broaden their platform through further investments in sales and marketing, new service offerings, and strategic acquisitions.”
“For more than six decades on a combined basis, our team has been pioneering the most innovative and holistic suite of services and building a strong reputation as a trusted independent advisor to our clients,” said Mr. Smith. “We’re excited to partner with TSCP to extend our leadership position and, with significantly greater resource backing, accelerate the expansion of our team’s end-to-end vertical transportation services, world-class customer care, and geographic reach.”
“Partnering with ATIS represents another step forward in our strategy to expand Thompson Street’s footprint in essential service industries with durable demand drivers and attractive growth prospects,” said Bob Dunn, a managing partner at TSCP. “The team at ATIS has established a leading business that aligns nicely with our vision for growth, enabling us to advance the ATIS platform and drive positive outcomes for all stakeholders.”
St. Louis-based TSCP makes equity investments of $50 million to $250 million in companies with EBITDA between $5 million and $50 million. Sectors of interest include healthcare and life science services, software and technology services, and business and consumer products and services. Founded in 2000, TSCP has acquired over 150 companies and has assets under management of over $4.8 billion.
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