#United States #H.I.G. Capital #Action Elevator #All City Elevator #Millersville, Maryland

H.I.G. Capital Announces the Formation of EverRise Lift Group

H.I.G. Capital, a prominent alternative investment firm managing $75 billion in capital, has officially established the EverRise Lift Group. This new entity emerged from the merger of two established companies in the elevator industry: Action Elevator and All City Elevator. Both companies will continue to operate under their existing local brands, preserving their unique identities while benefiting from the combined strengths of the new group.

Headquartered in Millersville, Maryland, EverRise Lift Group operates across the Upper Midwest, with a significant presence in Minneapolis, Minnesota, thanks to All City Elevator. The firm offers an array of services including maintenance, repair, modernization, and new installations, tailored for commercial, residential, and institutional clients. A key aspect of EverRise's approach is its commitment to using non-proprietary elevator equipment, allowing customers greater flexibility in managing their long-term maintenance and repair needs.

The formation of EverRise exemplifies H.I.G. Capital's strategic objective of creating scalable platforms that have multiple growth opportunities. The company aims to bolster its modernization capabilities while making substantial investments in technology and talent. Additionally, H.I.G. plans to pursue strategic add-on acquisitions to further enhance EverRise's market position.

Christopher J. Smith, who formerly served as Executive Chairman of Action Elevator, has been appointed as the Chief Executive Officer of EverRise. With over 30 years of leadership experience in the elevator and vertical transportation sectors, Smith brings a wealth of expertise to the role. His previous positions at major industry players like Otis Worldwide Corporation and Schindler Elevator Corporation involved overseeing global modernization initiatives and service growth strategies. He will be taking over the role from John Marshall, Sr., the founder of Action Elevator, who will transition to the position of Executive Chairman of EverRise and continue to support the company's growth.

Rahul Vinnakota, Managing Director and Co-Head of H.I.G. Advantage, expressed optimism regarding the merger. He noted that both Action Elevator and All City Elevator share a strong commitment to customer service, technical excellence, and an operational model that provides significant choices and control to building owners. By merging these two platforms into the EverRise Lift Group, H.I.G. accelerates its vision of cultivating a national leader in independent elevator services.

In a statement, Christopher Smith emphasized the complementary strengths of both companies. He highlighted that All City Elevator's established presence in the Upper Midwest, combined with Action Elevator's ongoing momentum in the Mid-Atlantic, creates a more extensive service footprint. This merger aims to empower customers with improved technical expertise and a steadfast focus on safety, reliability, and non-proprietary equipment that they have come to expect.

The EverRise Lift Group sets a new standard in the elevator service industry, striving to enhance long-term relationships with clients while ensuring exceptional safety standards. With the leadership of seasoned executives and a solid foundation built on customer dedication, EverRise is well-positioned to thrive in a competitive marketplace.

For additional information about EverRise Lift Group and its services, visit everriseliftgroup.com.

Conclusion

As H.I.G. Capital forges ahead with the establishment of EverRise Lift Group, the elevator industry can anticipate innovations and improved service offerings. The strategic focus on modernization and customer-centered solutions will undoubtedly pave the way for significant advancements in vertical transportation solutions across the United States.