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Press release content from Business Wire. The AP news staff was not involved in its creation.

Southwest Elevator’s Platform Expansion Has Been Action-Packed

December 15, 2020 GMT

DALLAS & WASHINGTON--(BUSINESS WIRE)--Dec 15, 2020--

Align Capital Partners’ (“ACP”) elevator services platform Southwest Elevator Company (“Southwest” or the “Company”) announced today several growth initiatives, including its merger with Action Elevator Company (“Action”), tuck-in of Avery Elevator (“Avery”) and the opening of two new branch locations in Las Vegas and Miami.

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Action Elevator provides elevator modernization, maintenance, repair and new construction services for property owners and managers located in the Baltimore-Washington metropolitan area and in the Delmarva Peninsula. Family-owned and operated since 2012, Action is a full-service elevator company serving customers across a variety of end-markets.

“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 Action’s Founder and President John Marshall, Sr. “Furthermore, we are very excited about the addition of Avery Elevator in our DC market.” Like Southwest’s Founder and CEO, Tom Cavinder, Marshall is a third-generation elevator executive with a decades-long track record of providing best-in-class service to property owners and managers who require mission critical elevator services. Action will continue to operate under the established Action name.

“Southwest is thrilled to partner with John, his sons and their talented team of employees to serve attractive markets. Under John’s leadership, we’ll provide additional resources to the team and continue expanding geographically; both organically and through additional add-on acquisitions,” Cavinder said. “In addition to our expansion in the Mid-Atlantic states, we’re excited to announce our entry into Southern Florida and Las Vegas. Both locations are fully operational at this point and we look forward to providing our customers there with world class service.”

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Headquartered in Washington, DC, Avery has provided quality elevator maintenance and repair services to the District of Columbia since 1980. “Align and Southwest are excited to welcome Action and Avery to the Southwest family of elevator service companies,” said ACP Co-Founder Steve Dyke. “We will remain focused on our aggressive expansion strategy and are enthusiastic about the opportunity to grow this exciting company.”

Operating Partner Dave Perotti, Vice President Kurt Smentek, and Associate Walker Tiller worked alongside Mr. Dyke on the transaction.

About Southwest Elevator Company

Southwest Elevator Company is a leading independent provider of elevator repair, maintenance, modernization, and new construction services. The Company was founded in Fort Worth, Texas by current chief executive officer and third generation elevator contractor Tom Cavinder. The Company currently has offices in 6 states and serves a variety of end markets including, commercial offices, educational facilities, medical centers, and hospitality. Southwest is committed to excellence, total customer satisfaction, and continued support delivered via its QEI certified mechanics. For more information, visit southwestelevator.com.

About Align Capital Partners

Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. ACP makes control investments in differentiated companies within the business services, technology, specialty manufacturing / distribution, and healthcare sectors. For more information, visit aligncp.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201215005125/en/

CONTACT: Media Inquiries

Katie Noggle

216-505-6463

knoggle@aligncp.com

KEYWORD: TEXAS DISTRICT OF COLUMBIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY FINANCE CONSTRUCTION & PROPERTY BUILDING SYSTEMS BANKING

SOURCE: Align Capital Partners

Copyright Business Wire 2020.

PUB: 12/15/2020 06:00 AM/DISC: 12/15/2020 06:01 AM

http://www.businesswire.com/news/home/20201215005125/en