CLEVELAND and DALLAS, September 3, 2024 | Align Capital Partners (“ACP”) announced today the sale of Action Elevator (“Action” or the “Company”) to an affiliate of H.I.G. Capital (“H.I.G.”). Headquartered near Baltimore, Maryland, Action is a leading independent provider of elevator services led by founder and CEO John Marshall, Sr. John and his family will remain significant shareholders in the Company and continue to manage the business. Action completed two strategic acquisitions during its partnership with ACP, including Avery Elevator Corporation and Century Elevator, which expanded the Company’s presence in the Mid-Atlantic.
“It has been rewarding to work alongside the Action team to drive geographic density and new customer acquisition across the Company’s core markets,” said ACP Founding Partner Steve Dyke. “The Marshall family has been a tremendous partner to ACP and I look forward to tracking their next phase of growth alongside H.I.G.”
The Company currently services roughly 800 facilities for hundreds of customers across the greater Washington DC-Baltimore region. Action’s performance driven culture is anchored by operational excellence, which is critically important given the regulatory and safety-driven nature of their work.
“Action Elevator was founded in 2012 with a focus on building long-term relationships in our community by always putting the customer first, delivering best-in-class service and providing our employees with a family-oriented culture.” said John Marshall, Sr. “We’re extremely proud of the growth our Company has achieved, and appreciate the support and partnership Align Capital Partners provided us along the way.”
Founding Partner Steve Dyke, Operating Partner Ervin Cash, Vice President Kurt Smentek and Vice President Sarah Whitney were key members of ACP’s investment team. Houlihan Lokey and Calfee, Halter & Griswold LLP advised Action Elevator on the transaction.