Arcline Investment Management L.P., a private equity firm based in San Francisco, announced on Tuesday it has acquired Jersey Elevator.
Founded in 1974, Jersey Elevator is an Aberdeen-based provider of elevator maintenance, modernization and installation services throughout New Jersey and Pennsylvania.
“Forty-six years after my father founded the company, this move provides us with a strong foundation for the continued development of the business. I am excited to be working with Arcline to create lasting growth within our industry,” John Sweeney, president of Jersey Elevator, said.
“Jersey Elevator has a strong management team and a dedicated workforce that is highly regarded for quality of service. We are excited to partner with the company to support its future expansion through complementary investments in technology and acquisitions,” Arcline said.