3Phase Elevator and Gable Elevator Announce Merger
3Phase Excel expands into Ohio, adds Gable to its family of independents
CANTON, Mass. & CLEVELAND--(BUSINESS WIRE)--3Phase Elevator, a leading independent elevator and escalator services provider, today announced that it has merged with Gable Elevator, a provider of elevator maintenance, repair, and modernization services in the Cleveland and Columbus markets. The merger enables 3Phase to establish a strong presence in Ohio as it continues to expand nationally. Terms of the transaction were not disclosed.
Gable Elevator, a family-owned and operated company, uses non-proprietary elevator components and elevator equipment to service commercial buildings in the surrounding areas of Cleveland and Columbus. The company has achieved its growth in Ohio by creating long-term value through its commitment to customers. The existing Gable team, led by Phil Isaac and Matt Schumann, will remain in place and the company will continue to serve customers under the Gable Elevator brand. Rick Gable, who has made strong contributions to the business, has decided to retire from the business. “It was important for me to transition our business to the right partner and 3Phase will support the team and help it grow to the next level,” said Rick Gable.
“What attracted Gable to 3Phase was how similar their approach is to ours in serving customers. The customer is always right, and our goal should be to exceed expectations on every service call,” said Phil Isaac, owner and operator of Gable Elevator. “We are excited about the future with 3Phase because, as a small independent, we can only take on so much opportunity. This partnership gives us the ability to grow faster and expand beyond the Cleveland and Columbus markets throughout the Midwest.”
“Expansion into Ohio has been a strategic priority for 3Phase, and Gable is the most respected independent in the market. When we first met Rick and Phil, we knew they were like-minded partners,” said Mike Strachan, CEO of 3Phase Elevator. “This partnership gives us an opportunity to continue our path of growth throughout the Midwest.”
Harvey & Company served as the exclusive financial advisor to 3Phase for this transaction.
Contact Information
Press: Sarah Kulka
press@berkshirepartners.com
About 3Phase Elevator
Founded in 1996, and headquartered in Canton, Mass., 3Phase Elevator is a leading independent provider of elevator and escalator maintenance, repair, and modernization services in 14 states across the eastern part of the United States. The company is built on a foundation of exceptional customer service and has approximately 11,000 units in its care. 3Phase has completed nine mergers and acquisitions, including six this year, and in June 2021 received an investment from Boston-based investment firm Berkshire Partners. For additional information, visit www.3phaseelevator.com.