Both Transactions Mark Expansion Across the Mid-Atlantic Region
January 7, 2021
Fort Point Capital’s (“Fort Point”) elevator services platform 3Phase Elevator Corp. (“3Phase” or the “Company”) announced today the acquisition of Brandywine Elevator Corp. (“Brandywine”) and Penn City Elevator (“Penn City”).
Brandywine Elevator provides elevator maintenance, repair, and modernization for property owners and managers located in the Philadelphia and Wilmington, Delaware metropolitan areas. Founder-owned and operated since 2007, Brandywine is a full-service elevator company serving customers across a variety of commercial and industrial end-markets.
Headquartered in Philadelphia, Penn City has provided quality elevator maintenance and repair services to the city since 1948. “Fort Point Capital is thrilled to welcome Brandywine and Penn City aboard the largest independent elevator company in the Eastern U.S.,” said Fort Point Capital Partner Paul Lipson. “We remain focused on providing the best service and quality in the industry.”
“The Brandywine team is excited to partner with 3Phase and enhance its position as the leading independent elevator service provider in the region and beyond,” said Brandywine’s Founder and President Michael Sanfrancesco. “The addition of Penn City further demonstrates 3Phase’s commitment to this market.” Brandywine and Penn City will operate under the 3Phase Excel Elevator name, and the entirety of both field and operations staffs will continue with the company.
“3Phase is very excited to partner with Michael and the talented team in our shared market. Under the leadership of Kevin Parker from Brandywine, who will now be 3Phase’s Mid Atlantic District Manager, we will provide additional resources to our customers and opportunities to our team, as we continue to expand our coverage in the market,” said Michael Strachan, CEO of 3Phase Elevator.
Kirkland & Ellis and BlumShapiro advised 3Phase and Fort Point on the transactions.
About Fort Point Capital
Based in Boston, Massachusetts, Fort Point Capital is a private equity firm that invests in lower middle market, business services companies in partnership with strong management teams.