Elevator Service LLC Acquires Van Duinen Elevator Co.

Carroll Capital Acquires Elevator Service, Inc.

October 4, 2019

Industrial Services

Carroll Capital LLC has acquired Elevator Service, Inc. (ESI), a Grand Rapids-based independent elevator services provider, from owner Nate McFadden in partnership with ESI management. Carroll Capital will support ESI’s growth strategy, including expanding market share across Michigan and pursuing add-on acquisitions to build a regional elevator services platform.

Elevator Service (ESI) Acquires Express Elevator LLC with Support from Carroll Capital

October 15, 2021

Industrial Services

Elevator Service LLC (ESI), backed by family office Carroll Capital, acquired Milwaukee-based Express Elevator LLC. The deal adds Express’s ~350 customer base and field-service team to ESI’s Midwest elevator services platform to accelerate growth across Wisconsin.

ESI (Elevator Service LLC) Acquires Toledo Elevator & Machine Co.

March 25, 2022

Engineering Services

Elevator Service LLC (ESI), backed by Greenwich-based family office Carroll Capital, acquired Toledo Elevator & Machine Co., Inc., the largest independent elevator service provider in Northwest Ohio. The add-on expands ESI’s platform into the Ohio and Detroit markets while retaining Toledo Elevator’s President Jason Gwin in his leadership role to support continued growth and service capability expansion.

Elevator Service, Inc. Acquires Elevator Technology

September 8, 2025

Industrial Services

Elevator Service, Inc. (ESI), parent of City Elevator of Michigan, has acquired Detroit-based elevator service provider Elevator Technology as owner Wayne Bolen retires. Elevator Technology will operate under City Elevator of Michigan, expanding ESI's footprint and service capabilities in the Detroit metro while ensuring continuity for customers and employees.

ESI Acquires Bounds Elevator

April 1, 2024

Industrial Services

Elevator Service LLC (ESI), a Grand Rapids-based elevator service platform, has acquired Bounds Elevator, an independent service provider in the New Orleans market, from founder Tim Bounds. The deal — completed with financial backing from Greenwich-based family office Carroll Capital and debt financing from BMO — is an add-on to ESI's platform to strengthen its presence in Southern Louisiana and the Mississippi Gulf Coast.

Elevator Service Inc. Acquires American Elevator

June 2, 2025

HVAC & Mechanical

Elevator Service Inc. (ESI) has acquired American Elevator, an Oklahoma City–based provider of elevator maintenance, repair and modernization services. The deal expands ESI's service footprint across the Southwest (Oklahoma and West Texas) and brings American Elevator's employees and regional customer relationships into the ESI platform.