H.I.G. Capital Merges Two Elevator Firms to Form EverRise Lift Group
Event summary
- H.I.G. Capital combines Action Elevator and All City Elevator to form EverRise Lift Group, headquartered in Millersville, Maryland.
- Christopher J. Smith, former executive at Otis and Schindler, named CEO of EverRise.
- EverRise will operate as an independent elevator service provider, focusing on non-proprietary equipment.
- H.I.G. Capital plans to support EverRise's growth through organic expansion and strategic acquisitions.
The big picture
H.I.G. Capital's formation of EverRise Lift Group aligns with its strategy of building scaled platforms in the industrial services sector. The merger creates one of the largest independent elevator service providers in the U.S., positioning EverRise to capitalize on the growing demand for modernization and maintenance services in commercial and residential buildings. With $75 billion in assets under management, H.I.G. is well-positioned to support EverRise's expansion through both organic growth and strategic acquisitions.
What we're watching
- Scale and Reach
- How EverRise will leverage the combined footprint of Action Elevator and All City Elevator to compete with larger players like Otis and Schindler.
- Non-Proprietary Model
- Whether EverRise's focus on non-proprietary equipment will attract more building owners seeking flexibility and control.
- Execution Risk
- The pace at which EverRise can integrate the two companies and achieve operational synergies.
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