Southwest Elevator Company is the largest independent elevator services company in the state of Arizona. The company provides maintenance, repair, and modernization services throughout the state via locations in Tucson and Phoenix.
Co-founders Tom and Todd Cavinder wanted to focus their efforts on the rapidly-growing Texas operations, where they also have operations, and KONE was seeking to strengthen its capabilities in Arizona. SLATE’s founders were engaged after Southwest Elevator was approached by KONE and acted as exclusive financial advisor to the company during the divestiture, managing all aspects of the process.
The Arizona operations of Southwest Elevator were successfully divested to Finland-based KONE. In addition to the traditional complexity associated with a corporate divestiture, this transaction had the added challenge of navigating the client through the formalized acquisition process of a large international acquirer. Los Angeles-based Buchalter Nemer provided legal counsel to Southwest Elevator during the transaction.
This transaction represents another successful assignment for the founders of SLATE in the outsourced facilities services industry, a niche the firm’s Building Materials & Services practice has been focused on for the past several years.
