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Oracle Elevator

Oracle is the largest independent provider of contractually-based maintenance, modernization, and repair services for all major brands of elevator equipment. The Company maintains over 11,000 elevators through 22 branches across 13 states in the Midwestern, Southeastern, and Southwestern U.S.

PORTFOLIO STORY

How We Partnered

Transaction Dynamics

A partnership with management to acquire the company from a private owner.

Investment Thesis

  • Experienced management team with significant reinvestment
  • Strong regional market positions protected by significant barriers to entry
  • Attractive organic and acquisition-based growth opportunities
  • Strong base of recurring, high margin maintenance revenue
  • Meaningful competitive advantages create compelling customer value proposition
  • Attractive exit opportunities
  • Favorable industry trends, including consistent price increases and growth of the installed base

Incline Value Enhancement

  • Professionalized existing entrepreneurial business model and created a scalable platform
  • Implemented strategy to become the nationwide alternative to the Big Four elevator OEMs
  • Installed data analytics to track metrics at each branch
  • Standardized service offerings across branches and established infrastructure to strengthen acquisition strategy
  • Completed five add-on acquisitions
  • Opened three new branches
  • Drove maintenance contract growth through cross-selling efforts stemming from modernization jobs
  • Emphasized growth with larger property managers and in more sophisticated equipment segments
  • Invested in additional sales and operational resources to accelerate organic growth and increase operational efficiency
  • Leveraged competitive advantages and increased scale to penetrate attractive market segments
  • Built Oracle-wide culture and significantly upgraded the talent of its salesforce
  • Introduced sales incentives for technicians
  • Implemented new branding and marketing initiatives to target specific end markets

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HEADQUARTERS

Dover Plains, NY

STATUS

Realized

INDUSTRY

Business Services

FUND

II

INVESTMENT DATE

June 2019

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