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Published in Small Business

PE-backed Elevator Service Inc. continues Ohio expansion with latest acquisition

BY Tuesday, May 03, 2022 02:13pm

GRAND RAPIDS — Elevator Service Inc., a provider of elevator services for a growing coverage area throughout the Midwest, continued to expand its geographical footprint with another acquisition.

The Grand Rapids-based company announced this week that it has acquired Columbus, Ohio-based Moseley Elevators Inc., opening up its fourth new market within the last six months as it continues to consolidate throughout the region.

Elevator Service (ESI) will operate the company as a wholly owned subsidiary called Moseley Elevator Service, naming Dan DeVault president of the business. DeVault is the grandson of the founder of Moseley Elevators, which was established in 1955.

“ESI’s reputation of placing customers and employees at the forefront will be welcomed by the Columbus market,” DeVault said in a statement. “Columbus is hungry for a high-caliber independent elevator service provider, and ESI will fill that need with the launch of Moseley Elevator. It is a privilege to grow with this team and I am thrilled that the Moseley name is now part of the ESI platform.”

ESI is establishing a growing foothold in Ohio. Just over a month ago, the company acquired Toledo Elevator & Machine Co. Inc., which also operates in Detroit as City Elevator of Michigan.

ESI — which was purchased by Greenwich, Conn.-based private equity firm Carroll Capital LLC in 2019 — has completed three acquisitions in the last six months.

Founded in 1987, ESI is family-owned and specializes in designing, installing and maintaining elevator systems and maintains a presence in Grand Rapids, Milwaukee, Detroit, Toledo and now Columbus. 

“We’re excited to find experienced, like-minded entrepreneurs who share our values and our focus on customer service, and we welcome Dan, Sarah and Moseley Elevator to the ESI platform,” ESI president Brett McCay said.

Terms of the deal were not disclosed.

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