3Phase Elevator, an independent elevator and escalator services provider and portfolio company of Berkshire Partners, has merged with Specialized Elevator Services Holdings, an independent elevator service provider. As a result of the deal, Berkshire Partners has made an investment in the combined firm and has acquired CIVC Partners‘ stake in SESH.
Specialized Elevator Services Holdings operates under the brand names Specialized Elevator, 24 Hour Elevator and San Francisco Elevator. Going forward, the combined firm will be one of the largest nationwide independent union elevator services firms. Both firm’s existing management teams will remain in place.
“We’re pleased to continue to support 3Phase on its journey to be the provider of choice for customers, union mechanics, employees, and independent service providers seeking merger partners,” said Dave Bordeau, managing director of Berkshire Partners.
“Merging with 3Phase provides us with a transformational opportunity to take our commitment to customers and employees to a national level as the only independent IUEC service provider with true national scale,” commented Donovan McKeever, founder of San Francisco Elevator.
William Blair & Company served as exclusive financial advisor to Specialized and CIVC Partners and Kirkland & Ellis LLP served as its legal counsel. Jeffries LLC served as financial advisor to Berkshire Partners and 3Phase on the transaction and Ropes & Gray LLP served as legal counsel.