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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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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