3Phase begins its midwestern expansion following investment from Berkshire Partners with a well-known market leader in West Virginia
3Phase Elevator, a leading
independent elevator and escalator services provider, announced today that it has merged with West Virginia Elevator, the largest independent elevator services provider in West Virginia. This news follows 3Phase’s announcement earlier this month that it had received an investment from Berkshire Partners to expand nationally through acquisitions and partnerships. The strategic combination with West Virginia Elevator is the first step in 3Phase’s plan to expand toward the Midwest from its current footprint in the eastern United States.
West Virginia Elevator provides a range of local elevator services, including maintenance, safety testing, modernizations, repairs, new installations, and performance upgrades. West Virginians Dustin Bozek and Chris Bradley founded the company in 2012 and will continue to lead and grow West Virginia Elevator with 3Phase’s support. West Virginia Elevator has earned a strong reputation of high quality and prompt service, which is consistent with 3Phase’s mission. “Our customers choose us because we deliver the best service in our state, any time of the day or week, and have highly skilled mechanics that are reliable,” said West Virginia Elevator co-founder Dustin Bozek. “As a fellow independent, 3Phase is committed to the same level of customer service, and we are excited to partner with their team.”
“We will continue to be a locally led company delivering on our promise of great service by West Virginians to West Virginians and Dustin and I will remain owners in the combined organization,” added co-founder Chris Bradley.
“We are thrilled to partner with Dustin and Chris, as well as the entire West Virginia Elevator team,” said Mike Strachan, CEO of 3Phase Elevator. “Our national expansion strategy hinges on successful founders like Dustin and Chris placing their trust in us to continue to support them in their growth. We are excited about where we can take the combined companies together, all while enhancing the services customers receive, and adding opportunities for our mechanics.”
Maven Group served as financial advisor to West Virginia Elevator, and Harvey & Company served as financial advisor to 3Phase and Berkshire Partners. “We also wanted to thank Maven Group for their support over the last four years during which they gave us invaluable advice on how to grow our company. When we made the decision to partner with 3Phase, the team at Maven stayed involved and provided calm and comprehensive guidance throughout the entire transaction,” added Bozek and Bradley.
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About 3Phase Elevator
Founded in 1996, and headquartered in Canton, Mass., 3Phase Elevator is a leading independent provider of elevator and escalator maintenance, repair, and modernization services in 14 states across the eastern United States. The company is built on a foundation of exceptional customer service and has more than 8,500 units in its care. For additional information, visit www.3phaseelevator.com.
About Berkshire Partners
Berkshire Partners, a Boston-based firm, has 35 years of investment history. Berkshire Private Equity has made more than 130 private equity investments since its inception and has a strong history of partnering with management teams to grow the companies in which it invests. Stockbridge, the firm’s public equity affiliate, was founded in 2007 and seeks to make public equity investments in high-quality companies with strong competitive positions and long-term growth prospects. The firm invests in business services & technology, communications, consumer, healthcare and industrials companies. For additional information, and to see a full list of the firm’s private equity investments,, visit www.berkshirepartners.com.