ESI Acquires Van Duinen Elevator Co. in Grand Rapids

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Jun 29, 2022, 09:00 ET

GRAND RAPIDS, Mich., June 29, 2022 /PRNewswire/ -- Elevator Service LLC ("ESI"), a leading elevator service provider in the Midwest, announced today that it has acquired Van Duinen Elevator Co., an elevator service company located in Grand Rapids, Michigan. This investment marks ESI's third add-on acquisition in the last six months.

Van Duinen Elevator has been serving the Grand Rapids market since 1972. Van Duinen has a long-tenured customer base of commercial and industrial properties that are local to ESI's core Grand Rapids market. Van Duinen's owner, Larry Burns, will be joining the ESI management team.

Larry Burns said of the decision to partner with ESI, "ESI has committed to utilizing its knowledge and resources to continue to its high-quality maintenance, repair, and modernization services to Van Duinen's customers. It has been a pleasure to work with Brett and the ESI team throughout an efficient transaction process. I look forward to the long-term partnership."

This acquisition is both highly strategic and synergistic given its close proximity to ESI. The acquisition of Van Duinen strengthens ESI's market density in West Michigan and will allow ESI to further extend its services in the southern Grand Rapids and lakeshore regions, all while leveraging ESI's capabilities and resources to serve Van Duinen's customers.

ESI was founded over 30 years ago and has been family-owned since its inception. Today, ESI currently operates in the five markets of Grand Rapids, Milwaukee, Toledo, Detroit, and Columbus, and will continue its growth by partnering with leading Independents in attractive markets and recruiting talented elevator mechanics, executives, and salespeople. Brett McCay, President of ESI, said, "We look forward to bringing Larry onto the ESI platform and leveraging his deep knowledge base and skillset. This highlights our continued commitment to finding attractive opportunities in new markets with skilled and knowledgeable leaders."

ESI completed its investment in Van Duinen Elevator with financial backing from Carroll Capital, a Greenwich-based family office which originally partnered with ESI in 2019.

About ESI

ESI has served Michigan since 1987, performing elevator maintenance, repair, modernization, installation, and testing required by the State of Michigan to the commercial, municipal, industrial, and residential markets. ESI's team of highly skilled technicians and experienced staff can design, install, and maintain elevator systems that keep its customers' buildings running efficiently with the utmost respect for customers' operations. For additional information, visit www.esigr.com/

About Van Duinen Elevator

Van Duinen Elevator is an elevator maintenance, repair, construction and modernization company based in Grand Rapids, Michigan. The Company has served commercial, municipal, industrial, and residential customers since its founding in 1972.

SOURCE Carroll Capital