Slade Elevator, Inc, a subsidiary of the multinational Schindler Group, announced the acquisition of Clifton Elevator Service Co., Inc. (CESCO) based in South Plainfield, NJ.
Tracing its roots back to the 1930s, CESCO has been among the most respected elevator companies in New Jersey for many decades.
CESCO’s President Mike Ryan commented “We are very excited to join forces with Slade Elevator because together we will continue to provide best in class service. Our proven team in the office and in the field will join Slade Elevator to support our customers with the same passion and attention to detail that has made our company so successful.”
Vice President Tracy Brown added “With an international company like Schindler in the background, we look forward to benefiting from Slade’s business savvy and procedural know-how.”
Mrs. Brown’s siblings and co-owners Lisa Rowe (Treasurer) and Bill Bieber, Jr. (Maintenance) elaborated “Our family has been involved with this company for two generations and we thank everyone who has been part of our journey through all these years. We will now combine our unique knowledge of the marketplace with Slade’s organizational expertise so that our employees and customers will continue to thrive.”
All four owners thanked Maven Group for facilitating the transaction: “Maven Group prepared us during various in-person meetings and helped us select the best buyer by creating a competitive bid environment. They also guided us through the diligence process and supported our attorney at all the critical junctions of the transaction. We could not have sealed the deal without their professional help.”
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