DENVER – SLATE Partners (SLATE) announced today that its Principals advised Southwest Elevator Company (Southwest) on its majority recapitalization with Align Capital Partners (Align), a Cleveland-based private equity firm.
Founded in 2003, Southwest is the leading independent union provider of elevator and escalator services to property owners and managers throughout the Dallas-Fort Worth metroplex. The Company’s skilled technicians perform preventative maintenance, repair, and modernization services through multi-year contracts, generating highly predictable and non-cyclical revenues. Southwest’s experienced management team built a corporate culture around unrivaled client service, resulting in an extremely loyal core of blue-chip customers.
Tom Cavinder, co-founder and CEO of Southwest, said “I was looking for an investment bank that had real expertise in the elevator industry to identify an investment partner that could help launch my business from a regional leader to a national platform. SLATE not only did that but along the way they were integral in helping me build my business. The SLATE team worked tirelessly to make my dream a reality. I highly recommend SLATE as an M&A advisor, and I am honored to call everyone on the team a great friend.”
Aaron Bachik, co-founder of SLATE, commented “When Tom approached us about advising him on the recapitalization of Southwest, he emphasized how important it was that we help him find a partner, not simply an investor. Tom’s vision to build the Nation’s leading independent elevator services company through both organic and acquisition growth fit perfectly with Align’s strengths as an equity fund. It is a great partnership that will undoubtedly redefine the elevator services industry in the years to come.”
Southwest received legal counsel from Tanya Viner, Esq. and Jeremy Weitz, Esq., partners at Los Angeles-based Buchalter.
