Berkshire Partners Acquires 3Phase Elevator from Fort Point Capital
June 3, 2021
Boston-based private equity firm Berkshire Partners has entered into a definitive agreement to acquire 3Phase Elevator from Fort Point Capital. The investment will support 3Phase’s expansion into new U.S. markets through strategic add-ons and partnerships and strengthen its sales and digital capabilities; terms were not disclosed and the deal was expected to close by the end of June 2021.
- Buyers
- Berkshire Partners
- Targets
- 3Phase Elevator
- Sellers
- Fort Point Capital
- Industry
- Industrial Services
- Location
- Massachusetts, United States
- Transaction Type
- Buyout
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Related Acquisitions
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3Phase Elevator Acquires Halley Elevator
February 15, 2022
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3Phase Elevator has merged with Halley Elevator, a family‑owned provider of commercial elevator maintenance, repair and modernization services based in Massachusetts and New Hampshire. The transaction expands 3Phase’s footprint in northern Massachusetts and into southern New Hampshire; financial terms were not disclosed.
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3Phase Elevator and Specialized Elevator Merge as Berkshire Partners Makes Growth Investment
January 21, 2022
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3Phase Elevator and Specialized Elevator Services Holdings have merged to create the largest nationwide independent union elevator services company in the United States. Existing 3Phase investor Berkshire Partners made a strategic growth investment in the combined company — including acquiring CIVC Partners' stake in Specialized — while management from both companies reinvested and will remain in place. The combined business will employ more than 390 International Union of Elevator Constructors members and service over 20,000 elevator and escalator units.
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3Phase Elevator Acquires West Virginia Elevator
June 29, 2021
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3Phase Elevator has merged with West Virginia Elevator, bringing the West Virginia market leader into 3Phase's platform as part of a national expansion strategy following an investment from Berkshire Partners. West Virginia Elevator founders Dustin Bozek and Chris Bradley will continue to lead and remain owners while the combined business expands service capabilities and geographic reach.
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3Phase Elevator (Fort Point) Acquires Brandywine Elevator and Penn City Elevator
January 7, 2021
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Fort Point Capital-backed platform 3Phase Elevator Corp. acquired Brandywine Elevator Corp. and Penn City Elevator to expand its elevator services footprint across the Mid-Atlantic. Both businesses will operate under the 3Phase/Excel Elevator banner with existing field and operations staff retained.
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3Phase Elevator (Fort Point Capital-backed) Acquires Low Rise Elevator
August 17, 2020
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3Phase Excel Elevator Corp., a Fort Point Capital-backed independent provider of elevator maintenance and modernization services, acquired Low Rise Elevator, a Philadelphia-area vertical-transportation services provider. The deal expands 3Phase’s Mid-Atlantic presence; Low Rise’s owner Mark Myers will become branch manager covering PA, DE, MD and VA.
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3Phase Elevator Acquires Excel Elevator
January 7, 2020
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3Phase Elevator Corp., a New England-based independent elevator maintenance and modernization provider, has acquired Excel Elevator & Escalator Corp., a Staten Island, New York-based vertical-transportation services company. The deal, backed by Fort Point Capital and financed by BMO Sponsor Finance, expands 3Phase's geographic footprint along the I-95 corridor to cover ten states and strengthens its position as a leading independent elevator services platform.
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