Jersey Elevator acquired by Arcline Investment Management
Arcline Investment Management, a private equity firm, has acquired Jersey Elevator, a provider of elevator maintenance, modernization, and installation services in New Jersey and Pennsylvania, for an undisclosed price.
Founded in 1974, Jersey Elevator is said to have built a reputation for customer service, quality, and responsiveness, which has been reinforced by its trained professional technicians.
John Sweeney – President of Jersey Elevator said: “Forty-six years after my father founded the Company, this move provides us with a strong foundation for the continued development of the business. I am excited to be working with Arcline to create lasting growth within our industry.”
Arcline Investment Management, which is claimed to have $1.5 billion in committed capital, is engaged in investing in niche, market-leading firms with a passion for growth.
Arcline Investment Management stated: “Jersey Elevator has a strong management team and a dedicated workforce that is highly regarded for quality of service. We are excited to partner with the Company to support its future expansion through complementary investments in technology and acquisitions.”