Lift repair firm moves up with takeovers boost

A lift repair firm has elevated its market presence with a double takeover.

The Pace Group has bought Exel Elevator and The Lift Company & DJ Lifts.

Bosses say the moves mark another “step in its journey to build a premier national elevator maintenance business”.

They add it has boosted West Midlands-headquartered Pace Group’s national maintenance book to around 13,000 units and its customer base to about 5000.

Exel Elevator is based in Gateshead, with The Lift Company & DJ Lifts operating from Westerham, in Kent.

The deals were fuelled by LDC investment, and add to previous moves for firms including Metro Lifts, Elevate UK Lifts and Abacus Elevators made since the private equity operator backed The Pace Group last year.

Scott Haywood, The Pace Group director, said: “Exel Elevator and The Lift Company & DJ Lifts bolster our presence in the North East and South East, adding quality teams that share our commitment to excellent customer service.

“With LDC’s support, we’re building momentum and continue to see exciting opportunities ahead as we expand our national coverage.”

 Matt Newbold, LDC investment director in the West Midlands, added: “The Pace Group’s management team continues to deliver against its vision with impressive execution, completing ten value-enhancing acquisitions since our partnership began.

“We are excited to continue supporting its growth ambitions.”

The Pace Group was advised by Higgs LLP.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →