Signals Future Growth and Expansion for the Established Vertical Transportation Company
Urban Elevator Service, one of the largest independent elevator companies in the United States, today announced a new partnership with Skydeck Capital.
Urban Elevator has been providing installation, modernization, repair, and maintenance services to commercial, residential, educational, medical, retail, and other institutional facilities for more than 35 years. The company has grown to over 180 employees and maintains operations in Chicagoland, Northwest Indiana, Dallas-Fort Worth, Denver, Phoenix, Central and South Florida as a full-service provider across all end markets. This new partnership, in the form of financial and operational support, will allow Urban Elevator to maintain its industry leadership in current markets as well as grow its fotprint.
Skydeck Capital, a Chicago-based private investment firm, will take a minority interest in Urban Elevator, though the company will continue to operate autonomously under existing leadership.
“The foundation of our success is our legacy of doing the right thing, safely, every time. We are proud to have found a partner in Skydeck that shares our vision and entrepreneurial spirit, as well as our commitment to our team members,” said Rene Hertsberg, Urban Elevator’s co-CEO.
Tim Cook, co-CEO at Urban Elevator, added, “We are excited to have Skydeck’s assistance in cementing our status as the largest union independent elevator contractor in the country, while maintaining and improving our already best in class customer service.”
“Urban Elevator has the right blend of experience and entrepreneurial attitude that Skydeck seeks when working with new partners,” said Lior Shachaf Skydeck Capital. “We are glad to put our capital behind Urban Elevator’s current leadership.”
Hertsberg and Cook further stated, “We thank Maven Group for helping us through the entire process from start to finish while maintaining the highest level of confidentiality. Maven’s team took the time to understand what we really wanted, created a tailored marketing process, and guided us from initial negotiations until closing day. It was crucial to have an experienced advisor in our corner throughout the stressful and challenging process commensurate with a sizeable transaction.”
To learn more about Urban Elevator: Please visit urbanelevator.com
To learn more about Skydeck Capital: Please visit skydeckllc.com
Please contact Maven Group at (561) 225-3320 or (239) 253-4500 or visit
www.mavenelevator.com.
