3Phase Elevator’s Acquisition of Specialized Elevator Services Holdings

Ropes & Gray acted on the deal.

Berkshire Partners portfolio company 3Phase Elevator executed the acquisition of Specialized Elevator Services Holdings, a portfolio company of CIVC Partners, creating the largest independent union elevator services company in the United States. Terms of the transaction were not disclosed. 

Specialized Elevator Services is a leading independent provider of elevator maintenance, repair, and modernization services in California and one of the largest independent providers in the country. 3Phase Elevator, founded in 1997 and headquartered in Canton, Mass., is a leading independent provider of elevator and escalator maintenance, repair, and modernization services across 18 states and the District of Columbia. 

William Blair & Company served as exclusive financial advisor to Specialized and CIVC Partners. Jeffries LLC served as financial advisor to Berkshire Partners and 3Phase on the transaction.

The Ropes & Gray team that represented Berkshire Partners and 3Phase was led by private equity partner Christian Westra (Picture; Boston) and private equity associate Andrew Pomranke (Chicago), and included IP transactions partner Regina Sam Penti, tax partner Pam Glazier and private equity partner Taylor Hart (all of Boston). 

The team that represented CIVC Partners and Specialized Elevator Services Holdings was led by private equity partner Matthew Richards (Chicago) and private equity associates Raxit Shah, Lisa McJohn, and Ashanti Golliday (all of Chicago), and included tax partner Aaron Harsh, IP transactions partner Ed Black, employment & benefits partner Loretta Richard, employment & benefits senior counsel Dave Mandel (all of Boston) and tax associate Tristan Evans-Wilent (New York).

Involved fees earner: Edward Black – Ropes & Gray; Tristan Evans-Wilent – Ropes & Gray; Pamela Glazier – Ropes & Gray; Ashanti Golliday – Ropes & Gray; Aaron Harsh – Ropes & Gray; Taylor Hart – Ropes & Gray; David Mandel – Ropes & Gray; Lisa McJohn – Ropes & Gray; Andrew Pomranke – Ropes & Gray; Loretta Richard – Ropes & Gray; Matthew Richards – Ropes & Gray; Regina Sam Penti – Ropes & Gray; Raxit Shah – Ropes & Gray; Christian Westra – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: 3 Phase Elevator; Berkshire Partners; CIVC Partners LP; Specialized Elevator Services Holdings;