Date
Jul 2021
Region
Florida
We are pleased to announce the sale of our client, South Florida Elevator Service, to American Elevator Group. The acquisition closed July 1, 2021.
Located in Miami, Florida, South Florida Elevator Service (SFES) specializes in affordable solutions for client’s vertical conveyance needs. The company offers a Preventive Monthly Maintenance Control Program (MMCP) with a job-specific design, which keeps clients’ equipment in working and reliable condition.
With the MMCP, SFES ensures clients that it will prevent unexpected elevator major repair expenses, as well as the liability of accidents. As its name suggests, SFES serves all areas in the South Florida Region from Key West to West Palm Beach.
American Elevator Group (AEG) is a collection of well-established elevator service companies operating across the United States. The group features renowned brands such as D & D Elevator, Kencor Elevator, Jersey Elevator, and Unitec. AEG has developed a significant footprint in the elevator industry, and is in a continuous state of growth.
President and CEO of SFES Emilio Paneca welcomed the investment from AEG, commenting “Although we are a relatively young business, now is the time to accelerate and capitalize on our growth opportunities. The strength and resources available to us through AEG will guarantee that we quickly achieve our true potential.”
Robert Schaeffer, CEO of D & D Elevator, who will be assisting Emilio and SFES Vice President Armando Amat, welcomed SFES to AEG, saying “I am excited we have been able to include SFES within our portfolio of the nation’s best service operations. AEG acknowledges the potential for strong business development in Florida, and with SFES and other quality businesses that we expect to join us soon, we will continue to grow apace.”
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Senior Managing Director of Mergers and Acquisitions, Terry Mackin, with the support of Vice President, Mergers & Acquisitions, Tristan Keeffe, successfully closed the deal. Senior Managing Director James Carr established the initial relationship with SFES.
“It took a big effort from the entire team to get this deal closed as quickly as we did," said Mackin.
Mackin added, “And special thanks to Joe Delisle from the Atlanta office of Miller Martin LLP for his immediate attention and dedicated work to get this to the finish line in near-record time!"
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Engineering, Contracting & Construction M&A Deals page.
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