Arcline Investment Management, a growth-oriented private equity firm with $1.5 billion of committed capital, has acquired Aberdeen-based Jersey Elevator.
Established in 1974, Jersey Elevator is a leading, independent provider of elevator maintenance, modernization and installation services in New Jersey and Pennsylvania. The company has established an enviable reputation for customer service, quality and responsiveness reinforced by its trained professional technicians.
John Sweeney, president of Jersey Elevator, said, “Forty-six years after my father founded the company, this move provides us with a strong foundation for the continued development of the business. I am excited to be working with Arcline to create lasting growth within our industry.”
Arcline commented, “Jersey Elevator has a strong management team and a dedicated workforce that is highly regarded for quality of service. We are excited to partner with the company to support its future expansion through complementary investments in technology and acquisitions.”
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