New York, NY (September 9, 2020) – D&D Elevator Maintenance, Inc. (“D&D Elevator”) of Elmsford, NY has been recapitalized by Arcline Investment Management (“Arcline”) of San Francisco, CA. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to D&D Elevator.
Bobby Schaeffer, CEO and President of D&D Elevator, said, “We have achieved a sustained period of robust growth, which requires substantial resources to ensure we can continue to provide high-quality service to our customers. This significant investment provides us with necessary, long-term stability and the backing to continue our success story.”
Arcline commented, “D&D Elevator is widely recognized for its quality of service and has a legacy of long-term relationships built on the highest levels of customer satisfaction. We are delighted to welcome the Company to our expanding elevator services portfolio, and look forward to supporting its continued growth through additional investments in technology and complementary acquisitions.”
D&D Elevator (www.ddelevator.com) is a leading independent provider of elevator maintenance, repair, modernization, and new installation services in the greater New York City area. Founded in 1981, the company has a legacy of long-term relationships built on the highest levels of customer service and reinforced by its team of professional technicians.
Arcline Investment Management (www.arcline.com) is a private equity firm with $1.5 billion in committed capital, investing in niche, market-leading companies with a declared passion for growth. Arcline approaches investment from multiple perspectives, but with a single vision – to identify and unlock the breakout potential in their portfolio companies. Some of Arcline’s primary interest areas include Industrial Technology, Specialty Materials, Aerospace & Defense, Personal Care, Medical Products and Life Sciences.
Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger and acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $10 to $450 million.
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