Shields & Company is pleased to announce it advised Elevator Systems, Inc. (“ESI”) in its sale to ShoreView Industries (“ShoreView”). Founded in 1973 and headquartered in Garden City, NY, ESI is a second-generation, family-owned business that designs, assembles, tests, and provides elevator controllers and ancillary products to elevator service technicians.
Nat Alcamo, ESI president and owner, said “The Shields & Company team was right by my side throughout the entire process. Their meticulous approach to preparation, deep appreciation for family business dynamics, and ability to quickly master the complexities of our industry allowed me to achieve an outcome far beyond my expectations. Shields & Company introduced me to an excellent partner in ShoreView, with whom I am excited to work with in this next phase of growth for ESI.”
“We are grateful to have had the opportunity to work with Nat and the ESI team on this transformative event in the company’s history” said Chris Nicholas, Managing Partner of Shields & Company. He went on to say “The ShoreView team really took the time to understand not only the business, but also Nat’s non-financial transaction objectives. ESI is in an exceptional position to build upon its already stellar growth and performance.”
Darwin Olympia, Shields managing director said “Nat and his family built an outstanding business with an impressive share of the NY-NJ-CT tri-state area without any formal sales and marketing effort. We are honored to have assisted Nat in finding a partner in ShoreView, who can accelerate growth through initiatives such as building out the leadership team, instituting a proactive sales and marketing effort, and strategic M&A.
Greg O’Shaughnessy and Amy O’Keefe of Nixon Peabody LLP served as ESI’s legal advisors. Christian DeLisio of RSM US LLP provided transactional accounting services to the seller.
Shields & Company acted as financial advisor to ESI in the above transaction.