Cibes Lift Group continues to strengthen its position in the USA
Cibes Lift Group enters an agreement to acquire Elevator Service Company, a full-service elevator contractor, to strengthen its position and to create new business opportunities in the US.
Elevator Service Company is headquartered in Torrington Connecticut and offers a wide range of home lifts, platform lifts and LULA elevators*. The company also services, modernizes, maintains, and tests lifts throughout Connecticut, New York, Rhode Island, and Massachusetts. Elevator Service Company was founded in 2000 and has 25 co-workers.
“Elevator Service Company is an important addition to the Cibes Lift Group, strengthening our position in the US. We are really looking forward to delivering an even stronger product and service portfolio to new and existing customers and expanding our US business together with Elevator Service Company”, says Per Lidström, CEO of Cibes Lift Group.
Following the completion of the transaction, Elevator Service Company will be a wholly owned subsidiary of Cibes Lift Group but will maintain its strong brand. The business will be run by newly appointed Managing Director, Matthew Montgomery, previously Head of Sales for Elevator Service Company. Current majority owner and CEO, Steven Roth, will leave the business but will support Matthew and the business during a transitional period.
”By choosing Cibes Lift Group as our partner, I’m confident in a prosperous future and a stable environment for our valued employees. This acquisition solidifies Elevator Service Company’s transition from private ownership into a larger group of lift companies, instilling trust and opening doors to a multitude of benefits for our business and employees. The financial stability gained through this transition will not only fortify our market position but also fuel our growth trajectory,” says Steven Roth, Owner, and CEO of Elevator Service Company.
The acquisition is planned to be completed during the fourth quarter of 2023.
*Limited Use Limited Application elevators
For more information, please contact:
Per Lidström, CEO & President of Cibes Lift Group, +46 26 17 14 00
Michael Graff, VP Sales Americas Cibes Lift Group 770-815-6503