3Phase Elevator and Specialized Elevator Merge as Berkshire Partners Makes Growth Investment
January 21, 2022
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.
- Buyers
- Berkshire Partners, 3Phase Elevator
- Targets
- Specialized Elevator Services Holdings
- Sellers
- CIVC Partners
- Industry
- Construction
- Location
- California, United States
- Transaction Type
- Growth capital
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