Acquisitions accelerate Oracle’s growth and further expand national footprint
TAMPA, Fla.–(BUSINESS WIRE)–February 13, 2018–
Oracle Elevator (“Oracle” or the “Company”) is pleased to announce the completion of four acquisitions in addition to the previously announced acquisitions of Daytona Elevator and Florida State Elevator earlier in 2017. All six acquisitions completed within the last ten months provide elevator maintenance, repair and modernization services and will enhance Oracle’s position as the leading independent alternative to the Big Four elevator manufacturers. Specifically, the Company is excited to announce the acquisition of SCS Elevator (Florida), Texas Independent Elevator and Premier Elevator Services (Texas), and Triangle Elevator (North Carolina).
The acquisition of SCS Elevator further expands Oracle’s footprint in central and south Florida, and the operations will be added to the Company’s existing branches in Orlando, Tampa, and Palm Beach. As mentioned above, earlier in 2017 we announced the acquisition of Daytona Elevator and Florida State Elevator increasing our density in the Florida region. The acquisitions of Texas Independent Elevator and Premier Elevator Services will increase Oracle’s presence in the Dallas Fort Worth region. Oracle also completed an acquisition in North Carolina, Triangle Elevator, and will open its second office in North Carolina as it seeks to expand its geographic footprint.
“Our team is thrilled to welcome these great companies to the Oracle platform,” said Paul Belliveau, President and CEO of Oracle Elevator. “These acquisitions will strengthen our market position in our leading territories, Florida and Texas, while also expanding our coverage into new regions with the opening of our Oklahoma City and Raleigh-Durham branches. Further, these acquisitions add quality technicians to our workforce and will further reinforce our mission to provide best-in-class customer service and support.”
With 25 branches across 13 states, Oracle is the largest independent provider of elevator maintenance, repair, and modernization services across all major brands of equipment. Since its founding, Oracle has completed 23 acquisitions of independent elevator companies. Oracle’s world-class corporate support functions combined with its planned state-of-the-art training facility provide a compelling reason for independent elevator companies to partner with Oracle. Acquisitions remain an important factor in Oracle’s aggressive national expansion strategy to become a legitimate alternative to the Big Four OEMs.
“We are extremely proud of the execution of the Oracle management team and their ability to accelerate our growth and geographic coverage through strategic acquisitions,” said Sean Barrette, Partner at L Squared and Oracle Board Member. “Our goal is to be the partner of choice for independent elevator companies when it is time for them to pursue a sale. We continue to be committed to providing the necessary capital to aggressively pursue acquisitions to enhance Oracle’s position as the leading independent elevator maintenance, modernization and repair company.”
About Oracle Elevator
Oracle Elevator is the leading independent non-union provider of elevator maintenance, repair, and modernization services across all major brands of equipment. The Company was founded in 2004 and currently operates 25 branch locations across 13 states. Oracle is backed by family office investors in partnership with employee shareholders. For additional information, please visit www.oracleelevator.com.
President & CEO
Powered by WPeMatico