Press Room

 

 

 

MENOMONEE FALLS, Wis.November 30, 2017 – Magnetek, a leading designer and manufacturer of elevator drives, today announced the presentation of its “Quattro® 1000 Club” award to Otis Elevator Company. The award represents the 1,000th Magnetek Quattro energy saving elevator drive that Otis has utilized in elevator modernization projects.

The Quattro drive family, including the Quattro DC, Quattro AC, and Quattro AC Cube, offer proven energy savings, lower installation costs, and superior ride quality. Quattro AC Cube, the Company’s latest Quattro product, is a fully integrated, compact regenerative drive that keeps harmonics low, eliminates the need for multiple external modules, and reduces costs for panel mounting and component wiring.

“We are privileged to work with our partner, Otis, and provide products like our Quattro drives that offer advanced energy savings, high reliability, and smooth ride quality, to their customers,” said Ed Butte, director of Magnetek’s elevator drives business.

For more information about Magnetek’s family of Quattro drives or any of their energy regenerative elevator drives, visit www.elevatordrives.com.

About Magnetek

Magnetek, Inc. is a leading provider of Energy Engineered® digital power and motion control systems used in elevator, overhead material handling, and mining applications. The Company is the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. Magnetek is North America’s largest supplier of digital drive systems for industrial cranes, hoists, and monorails, and is a leading provider of radio remote controls, motors, braking and collision avoidance subsystems. Magnetek is also a leading independent supplier of digital motion control systems for underground coal mining applications. Headquartered in Menomonee Falls, Wis., in the greater Milwaukee area, Magnetek operates manufacturing facilities in Pittsburgh, Pa., as well as Menomonee Falls. Magnetek supports European, Middle Eastern, and African elevator drive sales from its office in Bedford, UK, and Asian sales from its office in Singapore.

Contact:
Ed Butte
Director, Elevator
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262.252.2905

Lynn Bostrom
Director, Communications
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262.252.2903

 

 

Magnetek

 

MENOMONEE FALLS, Wis. − October 2, 2017 – Magnetek, a leading designer and manufacturer of elevator drives, will be exhibiting their line of elevator products, including the new HPV® 1000 AC Elevator Drive, at Stand 3195 in Hall 3 at Interlift 2017, being held in Messe Augsburg, Germany, October 17-20.

“Magnetek’s new HPV1000 provides the European market with the most reliable hardware platform combined with the best ride quality,” said Ed Butte, director of Magnetek’s elevator business. “HPV1000 offers a familiar, user-friendly parameter layout and controller interface common with other Magnetek elevator drives to ensure quick, easy setup.”

The HPV® 900 AF and Quattro® AC Cube drives will be on display at the Company’s stand. Designed with modernization in mind, the HPV 900 AF drive uses patented technology to operate today’s machine room-less (MRL) axial flux disc type motors. This unique solution provides plug-and-play installation and delivers optimal performance. Easy setup is made possible by the integrated digital operator, similar to other Magnetek elevator drives.

The Quattro AC Cube regenerative drive is designed to meet today’s growing need for green building solutions. This innovative drive comes in an evolutionary compact design that typically takes up less than one-third of the space of a traditional regenerative drive solution and includes near unity power factor, less than eight percent total harmonic current distortion as standard, and unique voltage boost feature that can ensure reliable elevator operation on sites where the incoming power supply is inconsistent.

Visitors will also learn how Magnetek’s high-performance RegenAC™ regenerative braking unit reclaims excess regenerative energy from the motor and supplies it back to the 3-Phase AC power system. It offers the latest regenerative technology, along with higher current capacity for use with larger motors.

Finally, recognizing the increasing demand to provide a means of operating lifts in power loss situations, Magnetek will also be displaying their Uninterruptable Power Supply (UPS) modules, which complement their drives.

Visitors will be able to engage with Magnetek’s elevator drive experts to learn how to save both energy and money while improving reliability of their lifts. Magnetek’s Customer Information Portal, featuring an improved Energy Savings Calculator, will be available for visitors to explore.

For more information about Magnetek’s line of energy saving elevator products, visit www.elevatordrives.com.

 

About Magnetek

Magnetek, Inc. is a leading provider of Energy Engineered® digital power and motion control systems used in elevator, overhead material handling, and mining applications. The Company is the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. Magnetek is North America’s largest supplier of digital drive systems for industrial cranes, hoists, and monorails, and is a leading provider of radio remote controls, motors, braking and collision avoidance subsystems. Magnetek is also a leading independent supplier of digital motion control systems for underground coal mining applications. Headquartered in Menomonee Falls, Wis., in the greater Milwaukee area, Magnetek operates manufacturing facilities in Pittsburgh, Pa., as well as Menomonee Falls. Magnetek supports European, Middle Eastern, and African elevator drive sales from its office in Bedford, UK, and Asian sales from its office in Singapore.

 

Contact:
Lynn Bostrom
Director, Marketing Communications
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262.252.2903

 

 

 

 Magnetek

 

MENOMONEE FALLS, Wis.Sept. 01, 2017 – Magnetek, a leading designer and manufacturer of elevator drives, today announced that Jeffrey Johnson has joined the company as a Business Development Manager for its AC Elevator Drives business. Mr. Johnson is responsible for managing AC elevator, escalator and related drive sales throughout North America and has extensive experience in AC drives, DC Drives, industrial control technology, and sales.

“Jeff’s background and technical experience in drive controls and customer support will be a valuable asset for our customers’ businesses,” said Ed Butte, director of Magnetek’s Elevator business. “His years spent working directly with customers in the field and his application expertise make Jeff a trusted resource our customers can count on.”

Mr. Johnson earned a Bachelor’s degree in Electrical Engineering Technology Studies from the Milwaukee School of Engineering. His initial exposure to the AC drives market began while he worked for Rockwell Automation and Holt Electric.

About Magnetek

Magnetek, Inc. is a leading provider of Energy Engineered® digital power and motion control systems used in elevator, overhead material handling, and mining applications. The Company is the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. Magnetek is North America’s largest supplier of digital drive systems for industrial cranes, hoists, and monorails, and is a leading provider of radio remote controls, motors, braking and collision avoidance subsystems. Magnetek is also a leading independent supplier of digital motion control systems for underground coal mining applications. Headquartered in Menomonee Falls, Wis., in the greater Milwaukee area, Magnetek operates manufacturing facilities in Pittsburgh, Pa., as well as Menomonee Falls.

 

Contact:
Lynn Bostrom
Director, Marketing Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
262.252.2903

 

 

 

 Magnetek

 

 MENOMONEE FALLS, Wis.Sept. 05, 2017 – Magnetek, a leading designer and manufacturer of elevator drives, today announced that Andrew (Andy) Hawkinson has joined the company as a OEM Business Development Manager for its Elevator Drives business. Mr. Hawkinson is responsible for managing elevator drive sales to major elevator OEM’s throughout the U.S. and brings extensive experience developing customer-focused solutions to the company.

“Andy brings a solid history of building strong relationships and making significant contributions to his customers’ businesses,” said Ed Butte, director of Magnetek’s Elevator business.  “He has experience working with OEM’s, Consultants and other stakeholders in both new and modernization projects in the commercial building market.”

Mr. Hawkinson earned a Bachelor’s degree in Mechanical Engineering from the University of Minnesota and is currently working on his MBA at the University of St. Thomas. He most recently worked as a Business Development Manager at CaptiveAire.

About Magnetek

Magnetek, Inc. is a leading provider of Energy Engineered® digital power and motion control systems used in elevator, overhead material handling, and mining applications. The Company is the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. Magnetek is North America’s largest supplier of digital drive systems for industrial cranes, hoists, and monorails, and is a leading provider of radio remote controls, motors, braking and collision avoidance subsystems. Magnetek is also a leading independent supplier of digital motion control systems for underground coal mining applications. Headquartered in Menomonee Falls, Wis., in the greater Milwaukee area, Magnetek operates manufacturing facilities in Pittsburgh, Pa., as well as Menomonee Falls.

 

Contact:
Lynn Bostrom
Director, Marketing Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
262.252.2903

 

 

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
BackBay Communications
20 Park Plaza, Suite 801
Boston, MA 02116
(617) 391-0797