Delaware Elevator announces the acquisition of a portion of the commercial maintenance portfolio of Eastern Elevator Co. based in Winchester, VA. The acquired contracts span across Virginia, West Virginia and Maryland.
“We will continue our very successful residential business in these 3 states” says Eastern Elevator’s owner Ray Clark, “and we will also keep our commercial clients along the I-81 corridor. This deal certainly wasn’t a cookie cutter transaction. Maven Group’s input was invaluable in helping us create a structure that made sense for both parties.”
The acquisition will expand Delaware’s already significant presence in VA, WV and MD by further enhancing their maintenance and repair base. “We are excited to take over a spotless operation from Ray and his team”, says Pete Meeks, President and CEO of Delaware, “I look forward to serving our new customers with the same level of excellence.”
“As always with Maven Group, this was a seamless transaction without any hiccups” added Barry Hoffman, Delaware Elevator’s CFO, “we look forward to growing our business with more deals like this.”
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