FOR IMMEDIATE RELEASE
Investment will support Oracle’s rapid growth, enhance training and professional development of technicians, and provide capital to pursue acquisitions.
Newport Beach, CA, May 16, 2017 - L Squared Capital Partners (“L Squared”) and Oracle Elevator (“Oracle” or the “Company”), today announced that L Squared, together with Longview Asset Management, has partnered with Oracle management to recapitalize the Company. Financial terms of the transaction were not disclosed.
Oracle represents L Squared’s sixth platform investment over the last three years. Founded in 2004 with 22 branch locations across 13 states, Oracle is the largest independent provider of elevator maintenance, repair, and modernization services across all major brands of equipment. L Squared’s investment provides a long-term capital base to support the Company’s national expansion strategy through both de novo branches and acquisitions.
“Oracle is pleased to partner with the L Squared team to drive the next phase of Oracle’s growth as the leading independent alternative to the Big Four elevator manufacturers,” said Paul Belliveau, President & CEO of Oracle Elevator. “L Squared’s long-term investment horizon will allow us to make further investments in our people and continue growing our geographic footprint while providing the highest level of service to our customers.”
Oracle plans to accelerate investment in its base of technicians and service representatives through both professional development as well as a new state-of-the-art training facility. These investments will further reinforce Oracle’s industry-leading customer service and ensure that Oracle technicians are continually trained on the latest elevator equipment and technology.
“We have been extremely impressed by Oracle’s track record of growth and commitment to high quality customer service and safety,” said Sean Barrette, Partner of L Squared. “Our family office capital base and long-term investment horizon is well suited to support Oracle’s geographic expansion, investment in its people and technical expertise, and pursuit of accretive acquisitions.”
Since its founding, Oracle has completed 18 acquisitions of independent elevator companies. This transaction provides capital to continue Oracle’s acquisition strategy, helping to accelerate the expansion of the Company’s geographic footprint and position Oracle as the partner of choice for other independent elevator companies when it is time for them to pursue a sale.
“We are thrilled to partner with Paul and the team at Oracle,” said Jeff Farrero, Managing Partner at L Squared. “We are committed to providing the capital and strategic resources to accelerate growth and enhance Oracle’s position as the leading independent elevator maintenance company.”
L Squared Capital Partners, Longview Asset Management and the Oracle management team contributed the equity for the transaction. Twin Brook Capital Partners led the debt financing to support the recapitalization along with co-lenders NXT Capital and Varagon Capital Partners. Vedder Price served as legal counsel to L Squared. BB&T Capital Markets served as an advisor and Cohen Gigsby served as legal counsel to Oracle. The L Squared deal team was comprised of Sean Barrette, Jeff Farrero, and Tyler Huez.
About Oracle Elevator
Oracle Elevator is the leading independent non-union provider of elevator maintenance, repair, and modernization services across all major brands of equipment. The Company was founded in 2004 and currently operates 22 branch locations across 13 states. Oracle is backed by family office investors in partnership with employee shareholders. For additional information, please visit www.oracleelevator.com.
About L Squared Capital Partners
L Squared Capital Partners is an investment firm with offices in Newport Beach, CA, and Chicago, IL, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Tech-Enabled Services & Software, Industrial Technology & Services, and Education Technology. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 60 years of combined experience investing in growing private companies. For additional information, please visit www.lsquaredcap.com.
About Longview Asset Management
Longview Asset Management oversees direct public and private investments on behalf of individuals, trusts, and charitable foundations associated with a private family. Longview's public market investments span a broad range of industries, including health care, manufacturing, aerospace, software, and business and financial services. As a steward of permanent capital with minimal liquidity needs, Longview also works flexibly with management teams and financial sponsors to acquire and hold private businesses, and has completed such investments in a range of industries including ecommerce, banking, manufacturing, direct marketing, education, retail, and hydrocarbon infrastructure.
Zachary W. Tramonti
Senior Account Executive
20 Park Plaza, Suite 801
Boston, MA 02116
Dayton, OH, Jan. 20, 2017: Dayton, Ohio based Ritz Safety LLC, one of the largest privately-held safety companies in the U.S., announces the acquisition of Lone Star Safety & Supply, headquartered in Dallas, Texas and with additional branches in San Antonio, Texas and Oklahoma City, Oklahoma, effective December 1st, 2016. Lone Star Safety has served the safety industry in the South Central region of the U.S. for 44 years with a motto of “We keep the people, who are building America, Safe”. Lone Star Safety, a full-line personal protective equipment (PPE) and facility safety product distributor, offers a full array of rental equipment and is a certified repair center for self-retracting lifelines. The acquisition of Lone Star Safety marks the fourth strategic acquisition in the past 18 months for Ritz Safety, after acquiring Mobile, AL-based Safety Source Inc. in July 2015, Portland, OR-based Public Works Supply Inc. in May, 2016 and Medina, OH-based Slate Rock Safety in June 2016. Ritz Safety has also grown organically, with new or expanded facilities in Tampa and Pompano Beach, FL; Houston, TX and Indianapolis, IN, over the past two years.
Ritz Safety’s acquisition of Lone Star Safety will continue to position the combined organization as a local, regional, and national supplier to the industrial, agricultural, construction, mining, manufacturing, service, waste, oil and gas, ship building, and other industries, who are looking for assistance with their PPE requirements and consistent employee safety compliance. “The acquisition of Lone Star Safety continues to expand our national footprint and shorten lead times to our customers. We also like the strong service, repair and rental options that the Lone Star team can provide to our existing customers in Texas and Oklahoma. We are excited to have Lone Star Safety and their employees join the Ritz Safety family,” stated Ken Fisher, President of Ritz Safety.
Ritz Safety began in 1983 as a family-owned business in Pompano Beach, FL. Over the past 33 years, Ritz Safety has grown into a respected, international distributor with over 200 employees nationwide. Ritz Safety maintains corporate offices in Dayton, OH and now operates thirteen retail/wholesale distribution centers, in Pompano Beach, Jacksonville and Tampa, FL; Medina, OH; Indianapolis, IN; Theodore and Bucks, AL; Houston, Dallas, and San Antonio, TX; Oklahoma City, OK; Las Vegas, NV and Portland, OR. Ritz Safety services over 5,000 national and international customers monthly, and stocks over 25,000 safety products. For more information, please visit www.RitzSafety.com.
Ritz Safety LLC
8039 Washington Village Dr., Suite 110
Dayton, OH 45458
Augsburg – The interlift 2015 was the biggest one so far. With 540 exhibitors, 20,440 visitors and 42,500 m² of occupied space it was able to set three new records. These will probably already be history in 2017. The current registration situation is at any rate indicating further growth of the world’s leading trade fair in elevator technology: the project management has currently reported almost ten percent more exhibitors at the interlift AFAG event manager than in October 2014. It should be taken into consideration here that many firms decide on participation much earlier than a number of years ago. In this way the top companies of the branch in particular secure their customary positions.
One criterion distinguishes the interlift from all other elevator trade fairs: continuity. Exhibitors of long years’ standing feel that it is precisely their consistency that is a significant factor for the success of the interlift. Since 1991 it has always taken place in mid-October in the exhibition centre in Augsburg. And since this time the exhibitors have always been dealing with the same persons or service providers. On the event manager AFAG’s side, project manager Joachim Kalsdorf, consultant Sandra Geissler, Winfried Forster who is responsible for communication as well as AFAG Technology & Event have for many years been the familiar contact persons for the exhibitors. In addition to this there is a line-up of reliable local partners such as the logistics specialists BTG and Schenker and the Augsburg municipal utilities which supply the exhibition stands with electricity, water and compressed air. An important port of call for overnight stays and touristic matters is the Regio Augsburg Tourismus GmbH. All these trade fair partners who work in a highly professional way have provided
The exhibitors with support and assistance for 25 years in some cases, and make participation at the trade fair considerably easier for them.
This continuity, also with regard to the contact persons, is seen at no other elevator trade fair. Changing locations, postponed dates, newly arising, competitive trade fairs in the same country or unfavourable economic developments – many other elevator trade fairs have to cope with sometimes considerable alterations of the framework conditions. And this has often proved to be problematic for the event and in some cases has even led to termination of the trade fair.
The commitment of the AFAG and its trade fair partners is greatly appreciated by the exhibitors. 83% awarded the marks 1 (= very good), 2 or 3 for the support of the trade fair team. 85% awarded the marks 1, 2 and 3 for the overall organization by the AFAG. The worldwide advertising by AFAG for the interlift was also very well received by the exhibitors – for 88% of those questioned it deserves the marks of 1, 2 and 3.
For exhibitors who are interested in taking part in an interlift, personal consultation is an invaluable advantage. It is also for this reason that the interlift project management is present right from the start at all elevator trade fairs worldwide. Particularly at such a successful trade fair as interlift, networking is a vital ingredient for project manager Joachim Kalsdorf.
The planning of the interlift 2017 is running at full speed. Two thirds of the stand areas are already reserved. Interested companies should thus register immediately so that individual position requests can be considered where possible. The registration documents are available as a download at www.interlift.de.
The forum offers companies and institutions an excellent opportunity of giving information and presenting themselves and their innovations and standpoints to international trade professionals and involving them in discussion. In 2015 there were 2,000 interested listeners from at home and abroad – that is, one in ten of all trade fair visitors – who made use of the VFA Forum interlift to gain information on the latest developments in current international elevator themes. You can find the main themes for 2017 and all important information here:
AFAG Messen und Ausstellungen GmbH
Am Messezentrum 5
Tel +49 (0)821 – 5 89 82 - 143
Fax +49 (0)821 – 5 89 82 – 243
Eklund's, Inc. is pleased to announce that Ryan Lewis has joined our sales team as Director of Business Development - Western Region.
At Eklund's, a nationwide provider of total elevator cab solutions, Ryan will apply his extensive business development and sales management experience to help Eklund's expand further into the rapidly growing western region. He'll spearhead all sales and marketing efforts for Eklund's western territory including California, Arizona, Nevada, Washington, Oregon, Utah, Idaho, New Mexico, Colorado, and Hawaii.
Ryan will work closely with customers within the western region to provide solutions for custom elevator cab interior projects. Customers include elevator companies, property managers/owners and general contractors. He'll also lead efforts to educate architects and vertical transportation consultants about Eklund's custom cab capabilities and StreamLine standard product line.
Prior to joining Eklund's, Ryan held several management positions in the vertical transportation industry.
Western US customers, please reach out to Ryan for any upcoming projects or questions regarding custom elevator cab interiors!
Director of Business Development - Western Region
cell: (702) 286-1367
June 01, 2016 (Oshawa, Canada) ─ EHC Global (EHC), a leading manufacturer of escalator and elevator components, announced today the retirement of Ron Ball, the company’s Founder, Chairman and Managing Director of EHC’s Eastern Region operations. Ted Hornbein, EHC's General Manager, Asia Pacific, will assume the role of Managing Director, Eastern Region and will report directly to Jeno Eppel, President and Chief Executive Officer of EHC. Ron will continue to be involved in EHC as a strategic advisor.
In 1977, Ron established Escalator Handrail Company in Ajax, Canada, with only one employee, a long-term vision and an international growth strategy. By the early 1980s, the company had successfully expanded into the United States and had established a presence in several international markets. Soon after, Ron expanded the company’s global reach to Europe by integrating EHC into the supply chains of larger firms and OEMs and eventually establishing EHC’s first overseas manufacturing company in Germany in 1992. In the mid-1990’s, anticipating China’s increasing importance in international business and rapidly expanding domestic market, Ron relocated to Shanghai and successfully established EHC China, the company’s largest operation to date. Over the past decade, EHC has continued to grow its global footprint with the establishment of sales and distribution centres in Brazil, Barbados, France, the United Kingdom and Spain. In 2005, Jeno Eppel was appointed President and Chief Executive Officer of EHC.
“With EHC celebrating its 40th anniversary in the coming months, I felt that this was the opportune time to officially retire from the business and enjoy more time with family and friends,” said Ron Ball. “I am proud of the many accomplishments we have achieved since our humble beginnings and have complete trust and confidence in the leadership and commitment of Jeno Eppel and the entire EHC team.”
“On behalf of the EHC family, I would like to thank Ron for his vision, leadership and the many contributions he has made to the company, the local communities we support and the global lift industry over the past 40 years,” said Jeno Eppel. “We remain committed to growth, innovation and continuing Ron’s legacy for decades to come.”
Established in 1977, EHC Global Inc. (EHC) is a leading manufacturer of handrails, rollers and lift components for escalators, elevators and moving walks. Each day, EHC helps millions of people all over the world move safely and comfortably in public transit systems, shopping centers, airports, office buildings, hospitals, condominiums and other metropolitan spaces. EHC is committed to developing sustainable solutions that optimize safety, enhance value and meet the challenging demands of OEMs, designers, building owners and facility managers. To accomplish this, EHC employs top material scientists and engineers and continues to invest in R&D, product development and next-generation polymer and composite extrusion technology. EHC has manufacturing and distribution facilities in Canada, Germany, Spain, France, Brazil and China and a global network of sales offices including Barbados, Mexico, Slovakia, United Kingdom and the USA as well as EHC partners in all major markets globally. For more information about EHC, visit www.ehc-global.com.
John M. Calderon
Director of Marketing
1287 Boundary Road, Oshawa, ON L1J 6Z7 (Canada)
O: 905-432-6600, Ext. 217