Arcline Investment Management has acquired Jersey Elevator, a provider of elevator maintenance, modernization and installation services in New Jersey and Pennsylvania. No financial terms were disclosed.
Aberdeen, NJ, August 11, 2020 – Arcline Investment Management (“Arcline”), a growth-oriented private equity firm with $1.5 billion of committed capital, today announced that it has acquired Jersey Elevator (“Jersey Elevator” or “the Company”).
Established in 1974, Jersey Elevator is a leading, independent provider of elevator maintenance, modernization and installation services in New Jersey and Pennsylvania. The Company has established an enviable reputation for customer service, quality and responsiveness reinforced by its trained professional technicians.
John Sweeney, President of Jersey Elevator, said, “Forty-six years after my father founded the Company, this move provides us with a strong foundation for the continued development of the business. I am excited to be working with Arcline to create lasting growth within our industry.”
Arcline commented, “Jersey Elevator has a strong management team and a dedicated workforce that is highly regarded for quality of service. We are excited to partner with the Company to support its future expansion through complementary investments in technology and acquisitions.”
About Arcline Investment Management
Arcline Investment Management LP is a private equity firm with $1.5 billion in committed capital, investing in niche, market-leading companies with a declared passion for growth. Arcline approaches investment from multiple perspectives, but with a single vision – to identify and unlock the breakout potential in their portfolio companies. Some of Arcline’s primary interest areas include Industrial Technology, Specialty Materials, Aerospace & Defense, Personal Care, Medical Products and Life Sciences.