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M&A Deal Summary

Specialized Elevator Acquires Ascent Elevator Services

On May 14, 2019, Specialized Elevator acquired machinery company Ascent Elevator Services from KONE

Acquisition Highlights
  • This is Specialized Elevator’s 1st transaction in the Machinery sector.
  • This is Specialized Elevator’s 1st transaction in the United States.
  • This is Specialized Elevator’s 1st transaction in California.

M&A Deal Summary
Date 2019-05-14
Target Ascent Elevator Services
Sector Machinery
Buyer(s) Specialized Elevator
Sellers(s) KONE
Deal Type Merger

Target

Ascent Elevator Services

San Francisco, California, United States
Ascent Elevator Services, Inc. is an independent elevator company. Ascent Elevator Services provides industry elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance.

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Buyer(S) 1

Buyer

Specialized Elevator

Santa Fe Springs, California, United States
Category Company
Sector Business Services
DESCRIPTION

Specialized Elevator is dedicated to providing courteous, professional elevator services to keep every building’s elevator performing and looking its best. Our end-to-end elevator services include elevator modernization, maintenance, repairs, ADA compliance, and building code upgrades. Specialized Elevator is based in Santa Fe Springs, California.

DEAL STATS #
Overall 1 of 1
Sector: Machinery M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1

Seller(S) 1

SELLER

KONE

Helsinki, Finland
Category Company
Founded 1908
Sector Business Services
Employees64,036
Revenue 11.1B EUR (2024)
DESCRIPTION

KONE is a provider of elevators, escalators, automatic building doors, and integrated solutions to enhance the People Flow in and between buildings. KONE was founded in 1908 and is based in Espoo, Finland.

DEAL STATS #
Overall 2 of 2
Sector: Machinery M&A 2 of 2
Type: Merger M&A Deals 2 of 2
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 Maine Elevator Specialists

Windham, Maine, United States

Maine Elevator Specialists, Inc. is a provider of customer service, troubleshooting and repairs. Maine Elevator Specialists was founded in 1989 and is based in Windham, Maine.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 Detroit Elevator

Ferndale, Michigan, United States

Detroit Elevator offers manufacture, maintenance, service, repair, and modernization of all types and brands of elevator systems. Detroit Elevator was founded in 1914 and is based in Ferndale, Michigan.

Buy -
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