Southern Elevator, a prominent elevator maintenance, modernization, and repair services provider, has transitioned ownership to an investor group led by Plexus Capital, LLC. With 70+ years of experience, Southern Elevator has a strong reputation for reliability and customer service across various industries. This transition aims to fuel growth and innovation in the elevator industry. Plexus Capital brings expertise and resources to support Southern Elevator's strategic objectives, focusing on expanding services and technology while maintaining core values. This partnership seeks to elevate industry standards and enhance the elevator service landscape in the region, promising a bright future for the company.
GREENSBORO, N.C., Oct. 5, 2023 /PRNewswire-PRWeb/ -- Southern Elevator, a leading provider of elevator maintenance, modernization, and repair services, is pleased to announce it has transitioned ownership to an investor group led by Plexus Capital, LLC. This move marks a significant milestone for Southern Elevator and sets the stage for an exciting chapter of growth and innovation in the elevator industry.
With over 70 years of experience, Southern Elevator has built a stellar reputation for dependability, safety, and customer service. The company's portfolio covers a broad range of industries, from commercial buildings to educational buildings, industrial facilities, residential complexes, healthcare facilities, and beyond. By joining forces with Plexus Capital, Southern Elevator is poised to accelerate its growth and enhance its service offerings even more, while maintaining its core values and labor force.
"Southern Elevator has been a strong established elevator service company serving the Carolinas and Virginia for 74 years" stated Christopher Short, CEO of Southern Elevator. "The mission and vision of the company remain intact as we go into new ownership. This now allows us to expand our reach of customer-first service and employ technology to advance the level of service our customers deserve."
Plexus Capital, with a track record of successful investments and partnerships across various industries, is well-positioned to support Southern Elevator in its strategic objectives. This new ownership team brings a wealth of experience, resources, and industry insights that will help Southern Elevator expand its footprint, develop cutting-edge technologies, and provide even higher levels of service quality to its valued clients.
Rodney Pitts, prior Chairman and owner of Southern Elevator, added: "Southern Elevator has found an excellent partner in Plexus with highly similar values and culture that will enable a very fruitful partnership – we could not have found a better partner to invest in Southern Elevator's next phase of growth. The recapitalization with Plexus positions Southern Elevator to continue its trajectory and execute on the joint growth vision that will allow us to better serve our valued customers and create new opportunities for our valued employees."
Plexus Capital shares in Southern Elevator's vision for elevating the industry standard, and together, they aim to revolutionize the elevator service landscape in the region. Through this collaboration, Southern Elevator will be able to invest in the latest equipment, maintenance solutions and employee training to provide its clients with the highest quality and most efficient elevator services available.
"Plexus' partnership with Southern Elevator is the culmination of a multi-year firmwide effort to invest in the independent elevator services industry based on its mission-critical service offering, growth trends, and economic resiliency," said Will Anders, Partner at Plexus. "Southern Elevator has a top-notch customer service focused culture that when matched up with its cutting-edge technology, long-standing customer relationships, and exceptional leadership team provides a unique and differentiated platform to grown within the elevator maintenance industry."
Southern Elevator's partnership with Plexus Capital signifies a bright future for the company in the southeast and mid-Atlantic. Moving forward, Southern Elevator will continue providing its high quality of service while making investments to better serve its customers and expand its reach.
Financing for the transaction was provided by Brightwood Capital Advisors and PNC Erieview Capital. William Blair served as financial advisor to Plexus, and Lift Business Advisors served as financial advisor to Southern Elevator.
To learn more about Southern Elevator and its services, please visit https://southernelevator.com/ or connect with them on Facebook at https://www.facebook.com/southernelevatorco.
For more information on Plexus Capital, please visit https://plexuscap.com/.
Media Contact
Christopher Short, Southern Elevator, 1 800-373-0058 1006, [email protected], https://southernelevator.com/
SOURCE Southern Elevator
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