L Squared Capital Partners / Longview Asset Management take majority stake in Elevated Facility Services

UNITED STATES Facility Management / Maintenance REV 1m EUR - 100m EUR

Context

On 16 May 2017, private equity sponsors L Squared Capital Partners and Longview Asset Management executed a definitive leveraged recapitalization of independent vertical transportation provider Oracle Elevator. Incumbent management rolled over a significant equity interest alongside the institutional sponsors, ensuring leadership alignment to support the company’s nationwide expansion. The transaction marked L Squared’s sixth platform investment over a three-year period. The investment thesis centers on building a scaled, non-OEM service platform capable of competing directly against multinational equipment manufacturers. The recapitalization provides the growth equity and balance-sheet capacity necessary to execute programmatic bolt-on acquisitions of founder-led competitors, open greenfield/de novo branch locations, and invest in field-level technical engineering capabilities across high-density routes. Debt financing was arranged by Twin Brook Capital Partners, which served as administrative agent and lead lender on the senior credit facility, with NXT Capital and Varagon Capital Partners participating as co-lenders. Vedder Price served as legal counsel to L Squared Capital Partners. Oracle Elevator was advised by financial adviser BB&T Capital Markets, with Cohen & Grigsby acting as legal counsel.

Elevated Facility Services, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of [members only].

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Target

Specialist in elevator and escalator equipment maintenance, Elevated Facility Services Group provides contractually based technical services for all major vertical transportation brands. The operating model primarily relies on executing non-discretionary, statutorily mandated safety inspections, alongside scheduled mechanical repairs and ongoing service regimens for commercial building infrastructure. By maintaining an asset-light operational framework, the enterprise concentrates exclusively on the recurring service segment of the vertical transportation market, distinctly bypassing heavy manufacturing or new equipment installations. Under the executive leadership of Chief Executive Officer Matt Biskaduros, the organization coordinates a highly skilled technical workforce deployed to address continuous regulatory requirements. With an operational track record spanning over two decades, the technical service provider focuses on building localized density within the highly fragmented elevator and escalator maintenance space. The corporate architecture prioritizes localized field operations, establishing a deeply entrenched customer base through long-term service agreements driven by the continuous operational necessity of modern building mobility systems.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2017

2016

Other operations with Elevated Facility Services

Other operations with Elevated Facility Services
Date	Acquirer	Target	Country	Sector
04/2024	API GROUP	ELEVATED FACILITY SERVICES	UNITED STATES	Maintenance

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REFERENCES

Revenue range: REV 1m EUR - 100m EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Elevated Facility Services by L Squared Capital Partners / Longview Asset Management are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: elevated facility services

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Elevated Facility Services, an American company specialised in Maintenance, by L Squared Capital Partners and Longview Asset Management in 2017, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Api Group in April 2024 (see the dedicated deal page for details).

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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