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M&A Deal Summary

OTIS Acquires Axis Elevators

On January 1, 2015, OTIS acquired machinery company Axis Elevators from Meridian Equity

Acquisition Highlights
  • This is OTIS’s 2nd transaction in the Machinery sector.
  • This is OTIS’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2015-01-01
Target Axis Elevators
Sector Machinery
Buyer(s) OTIS
Sellers(s) Meridian Equity
Deal Type Add-on Acquisition

Target

Axis Elevators

London, United Kingdom
Axis Elevators offers a competent, prompt, and professional service to building owners, Building Managers, and Professionals in the fields of New Lifts, Preventative Maintenance, Reconstruction, Partial Modernisation, predominantly from offices in London and Andover (Hampshire). Axis Elevators was founded in 1989 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

OTIS

Farmington, Connecticut, United States
Category Company
Founded 1853
Sector Machinery
Employees71,000
Revenue 14.2B USD (2023)
DESCRIPTION
Entrance to Otis Elevator's corporate headquarters in Farmington, Connecticut.
Entrance to Otis Elevator's corporate headquarters in Farmington, Connecticut.

OTIS is a manufacturer and maintainer of people moving products, including elevators, escalators, and moving walkways. OTIS was formed in 1853 and is based in Farmington, Connecticut.

DEAL STATS #
Overall 3 of 5
Sector (Machinery) 2 of 2
Type (Add-on Acquisition) 2 of 3
Country (United Kingdom) 1 of 1
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-26 Marshall Elevator

Pittsburgh, Pennsylvania, United States

Marshall Elevator is a full-service elevator company serving Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-07 ThyssenKrupp Elevator - South Africa Service Business

South Africa

ThyssenKrupp Elevator's local South Africa service business maintains and services elevators, escalators and moving walkways.

Buy -

Seller(S) 1

SELLER

Meridian Equity

London, United Kingdom
Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Meridian Equity is a private equity firm focused on acquiring and investing in small UK-based companies. Meridian is self-funded and does not have any sector preferences. The Firm's target investment size is £500K to £5 million per transaction. Meridian Equity was established in 2003 and is based in London.

DEAL STATS #
Overall 2 of 5
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 4
Country (United Kingdom) 2 of 5
Year (2015) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-13 iNPIPE PRODUCTS

North Yorkshire, United Kingdom

iNPIPE PRODUCTS design, manufacture, supply, and hire/rental of pipeline pigging, maintenance, and testing products. iNPIPE PRODUCTS offer a flexible support approach that includes design, manufacture, test, and operate to offer a full turnkey project dependent upon speci­fic client requirements. iNPIPE PRODUCTS was founded in 1984 and is based in North Yorkshire, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-01 Tersus Consultancy

Rainham Essex, United Kingdom

Tersus Consultancy offers trusted advice in the delivery of asbestos services including surveys, air monitoring, and clearance testing, bulk sample identification, project management, training, and property compliance inspection and audits. Tersus Consultancy was founded in 1986 and is based in Rainham Essex, United Kingdom.

Sell -
Mergr

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