Align Capital Partners (ACP) has completed the majority recapitalisation of vertical transportation services (VTS) provider Southwest Elevator Company (Southwest).
Third generation VTS operator, Tom Cavinder, will remain with the Company as CEO and lead its national buy-and-build growth strategy.
Headquartered in Fort Worth, Texas, Southwest is an independent union provider of preventative maintenance, repair, and modernization services for elevators and escalators. The Company services properties throughout the Dallas-Fort Worth (“DFW”) metroplex across a variety of end-markets.
“Alongside our dedicated service team at Southwest, I’m excited for our next phase of growth with ACP,” says Cavinder. “I chose to partner with Align given their depth of resources, related sector experience, and our shared vision for executing an aggressive growth strategy within the VTS space.”
The VTS industry has many attractive attributes given fragmentation among independent operators and the non-deferrable, safety and compliance driven demand for services. ACP’s investment in Southwest will accelerate the Company’s growth efforts in Texas and quickly enable national expansion through both strategic add-ons and green-fielding new locations.
“We’re thrilled to be working with an industry veteran like Tom in our pursuit to build a national, independent VTS company,” says ACP Managing Partner Steve Dyke. “Tom brings with him a lifetime of industry knowledge and relationships that are the foundation of our investment in this sector.”
Operating Partner John Dupuy, Vice President Kurt Smentek, and Associate Bill Zaccardelli worked alongside Dyke on the transaction.
