Dear Friends,
We know you have been anxiously awaiting yet another “year in review” email.
Well, here it is.
2023 was a productive year for Maven Group and our clients with 9 announced transactions across the United States: click here for a list of transactions.
We began the year with the sale of Trenton Elevator in New Jersey to American Elevator Group (“AEG”). Trenton Elevator was founded in 1934 and we felt truly honored that current owners Jim and Fred Loesch entrusted Maven Group to represent their family’s company as they looked for a partner that would carry on the legacy built by their father and grandfather.
Later in the year, we represented Metro Elevator based in Minneapolis in their transaction with Elevator Services LLC (“ESI”). Owners Sue and Brad Hanson were excited to move towards retirement after a brief transition period.
After the completion of Metro’s transaction, we again had the pleasure of working with the ESI team when we represented A-1 Elevator and Pinnacle Elevator, both based in New Orleans. These transactions were particularly interesting as they expanded ESI’s service offerings to the Southeast region.
In April of 2023, we were privileged to represent Motion Elevator in Fort Lauderdale in their transaction with Axxiom Elevator. Axxiom went on to acquire Urban Elevator’s service portfolio in Florida and we were thrilled to represent Urban’s Chicago-based management team once again after Maven Group had already facilitated a transaction for them in 2020. Another customer who engaged Maven for a second transaction was Arizona Elevator Solutions, the largest independent elevator company in AZ, who partnered with the fast-growing Axxiom team in October. Just before the year ended, Maven Group also helped IronHawk Elevator, based in Tucson, to join the Axxiom family.
Last but certainly not least, Maven Group was proud to assist the Mianabi family in the transition of A&F Elevator Company, based in Dallas, to an ambitious elevator entrepreneur. It was fascinating to broker a deal that did not involve any of the traditional buyers of elevator companies whilst providing a new owner the opportunity to build on the Mianabi family’s accomplishments.
Each transaction affords the Maven Team the opportunity to meet new people and learn about what makes their business special. We continue to be honored and humbled to receive testimonials from our customers, who appreciate Maven’s assistance with their transaction from start to finish, and beyond: read our customer testimonials here.
On an internal note, we experienced a significant upgrade to our team when Carson Bombara joined Maven Group in January of 2023. Our customers as well as buyers across the industry commended Carson for his calm and competent approach to all challenges encountered throughout the complex M&A process.
2024 promises to be another exciting year with continued interest in the elevator trade from various investors and an increased appetite for transactions stated by several of the large international conglomerates. Many successful independent elevator service contractors as well as suppliers and manufacturers continue to reach out to Maven Group when it is time to contemplate the sale of their business, and it is especially satisfying when these conversations are initiated by the recommendations of our former clients.
We are grateful to be part of this fantastic industry and our entire team at Maven Group is looking forward to reconnecting with all of you in 2024!
Best regards,
Dominik Sachsenheimer
To learn more about Maven Group, LLC, please contact us directly:
Dominik Sachsenheimer (561) 225-3320, dominik@mavenequity.com
Carson Bombara (860) 899-8545, carson@mavenequity.com
Bill Beaury (239) 253-4500, bill@mavenequity.com
