Skydeck Capital has made an investment in Cicero, Illinois-based Urban Elevator Service, an independent elevator company. No financial terms were disclosed.
CHICAGO–(BUSINESS WIRE)–Urban Elevator Service, one of the largest independent elevator companies in the United States, recently announced a new partnership with Skydeck Capital.
Urban Elevator has been providing installation, modernization, repair, and maintenance services to commercial, residential, educational, medical, retail, and other institutional facilities for more than 35 years. This new partnership, in the form of financial and operational support, will allow the company to maintain its industry leadership in current markets as well as grow its footprint of more than 180 employees serving customers in six states.
Skydeck Capital, a Chicago-based private investment firm, will take a minority interest in Urban Elevator, and the company will continue to operate autonomously under existing leadership.
“The foundation of our success is our legacy of doing the right thing, safely, every time. We are proud to have found a partner in Skydeck that shares our vision and entrepreneurial spirit, as well as our commitment to our team members,” said Rene Hertsberg, Urban Elevator’s co-CEO.
Tim Cook, co-CEO at Urban Elevator, added, “We are excited to have Skydeck’s assistance in cementing our status as the largest union independent elevator contractor in the country, while maintaining and improving our already best in class customer service.”
“Urban Elevator has the right blend of experience and entrepreneurial attitude that Skydeck seeks when working with new partners,” said Lior Shachaf of Skydeck Capital. “We are glad to put our capital behind Urban Elevator’s current leadership.”
ABOUT URBAN ELEVATOR
Urban Elevator is a privately owned, union, independent elevator service contracting firm headquartered in Cicero, Illinois. Urban Elevator maintains operations in Chicagoland, Northwest Indiana, Dallas-Fort Worth, Denver, Phoenix, Central and South Florida. The firm is a full-service provider across all end markets. For more information, please visit urbanelevator.com.
ABOUT SKYDECK CAPITAL
Skydeck Capital is a Chicago-based private investment firm. Drawing from the experience and entrepreneurial spirit of its founder, Michael Polsky, Skydeck partners with entrepreneurs and management teams seeking to build sizeable, long lasting businesses. Unlike traditional private equity firms, Skydeck is not bound by any pre-defined time horizons or investment hurdles and focuses on long-term impact and value creation. For more information, please visit skydeckllc.com.