May 19, 2021   SOURCE: BusinessWire

Urban Elevator Acquires Aventura Elevator

Urban Elevator Service, one of the largest independent elevator companies in the United States, today announced its acquisition of Aventura Elevator. Urban Elevator completed the acquisition through its subsidiary Urban Elevator Service FL. Aventura Elevator is a full-service elevator contractor specializing in installing, modernizing, repairing, and maintaining all types of vertical transportation equipment, and has been serving clients across southeastern Florida since 2012. The acquisition expands Urban Elevator’s presence in the Miami-Fort Lauderdale corridor. Maven Group represented Aventura Elevator in the transaction. Deal terms were not disclosed.

“Allen Steed built Aventura Elevator to be known for its dedication to customer service and safety,” said Tim Cook, co-CEO. “We look forward to continuing Allen’s legacy with our brand of ‘world class’ elevator service, and are excited about the opportunity to add Aventura’s employees to our great team at Urban Elevator.”

Allen Steed, Aventura Elevator’s owner, commented, “I am very happy to have found a partner in Urban Elevator. Their leadership team understands what Aventura Elevator is about and I am confident they will continue providing the superior service our clients have come to expect over the years.”

Urban Elevator has been expanding its footprint across the United States in recent years, both by acquisition and opening new branches.

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, Los Angeles, and South Florida. The firm is a full-service provider across all end markets. Urban Elevator’s principal equity partner is Skydeck Capital, an entrepreneur-focused private equity firm that completed a minority investment in Urban Elevator in a deal that the two firms announced January 2021. For more information, please visit urbanelevator.com.