Arcline makes five acquisitions and forms Standard Elevator

Arcline Investment Management has formed Standard Elevator, an elevator components and solutions platform. The company was created as a result of five acquisitions of elevator services and installers: Standard Elevator Systems, EMI Porta, ZZIPCO, Texacone and Elevator Equipment Company. Jimmy He, the founder of Standard Elevator, will remain a significant minority shareholder in the combined business. No financial terms were disclosed.

PRESS RELEASE

MEMPHIS, Tenn., January 26, 2022 – Arcline Investment Management (“Arcline”), a growth-oriented private equity firm, today announced the creation of Standard Elevator (“Standard”), a leading elevator components and solutions platform formed by the acquisitions of five critical suppliers to the largest elevator servicers and installers in the United States and Canada: Standard Elevator Systems, LLC (“SES”); EMI Porta, LLC (“EMI”); ZZIPCO, LLC (“ZZIPCO”); Texacone, LLC (“Texacone”); and Elevator Equipment Company, LLC (“EECO”). Jimmy He, the founder of SES, will remain a significant minority shareholder in the combined business.

The combination of SES, EMI, ZZIPCO, Texacone, and EECO lays the foundation for Standard to become a vertically integrated one-stop shop for elevator parts, components, and software.

Arcline commented, “SES, EMI, ZZIPCO, Texacone, and EECO all have excellent reputations, strong management teams, and leading product portfolios of engineered components for critical elevator infrastructure. The businesses maintain strong market positioning, innovative hardware and software solutions, and growth-oriented cultures, which fit well within the Arcline portfolio. We have extensive industry expertise, and we are excited to partner with Jimmy He to execute on our shared strategic plan for organic and inorganic growth.”

Jimmy He, founder and owner of SES, said, “SES is thrilled to have Arcline’s resources and industry expertise behind us for our next chapter of growth. Throughout the process I was impressed by Arcline’s depth of industry knowledge, speed of execution, and how easy they were to work with. Through this exciting combination, Standard is poised to become a truly integrated, automated, and field-driven one-stop-shop supplier for all elevator contractors in North America. Our goal is to be the go-to supplier of elevator mechanics and partnering with Arcline provides an opportunity to realize this vision.”

William Blair served as financial advisor to Arcline.

About Arcline Investment Management
Arcline Investment Management is a growth-oriented private equity firm with $4.4 billion in cumulative capital commitments. Arcline seeks to invest in technology-driven, meaningful to the world industrial businesses that enable a better future. For more information visit www.arcline.com.

About Standard Elevator Systems, LLC
Standard Elevator Systems, LLC is headquartered in Memphis, Tennessee, and is a technology-driven elevator machine solution provider whose innovative offerings include elevator field technology, new elevator system designs, customized modernization solutions, and integrated elevator components and sub-systems. SES uses some of the latest technologies in automation, augmented reality, artificial intelligence, and composite materials in the applications of its solutions for both multi-national and independent elevator servicers.