Le Lézard
Subject: Merger/Acquisition

Oracle Elevator Acquires Landmark Elevator

Oracle Elevator is pleased to announce its acquisition of Maryland based Landmark Elevator, a trusted provider of elevator service, modernization and new installation in Maryland, Virginia, West Virginia and Pennsylvania. The acquisition will be the foundation for Oracle Elevator's northeast expansion plans and will enhance Oracle's position as the leading independent alternative to the multinational elevator companies. The acquisition represents Oracle's 32nd acquisition since 2004.

Bill Block Jr., President and owner of Landmark said this about the acquisition: "My dad and I started this business in 2001 to fill the need in the industry for a reliable elevator partner who could provide good service to customers wanting a better experience. For nearly two decades we have worked hard to deliver on that commitment. Our family has been in the elevator business in Hagerstown for five generations. This is a family business for us, in fact my son, Bill III, our fifth generation elevator professional, is a technician at Landmark. We believe that the next chapter of this story will be written by Oracle as we partner together to develop the northeast market. I am excited to take the opportunity to be the General Manager for Oracle and help them achieve this goal. When we met with Paul (Paul M. Belliveau, President and CEO of Oracle) we felt the same passion for the industry and commitment to employees as well as customers and knew Oracle Elevator was the right fit for us."

Geographic expansion is a strategic goal for Oracle Elevator as the company works diligently to increase its service footprint. Craig Jones, Oracle Elevator Vice President of Corporate Development, leads the acquisition efforts and helps identify partnership opportunities within the industry. "Being able to work with entrepreneurs like the Block family is very fulfilling. Seeing their excitement as they join a team with a mutual goal to improve the industry and customer experience is gratifying and motivating. In the current market, elevator business owners have capitalized on great timing and conditions to leverage the value of their companies. Oracle prides itself on identifying opportunities in this market that provide mutual benefit to owners and our organization.

Paul M. Belliveau, President and CEO of Oracle Elevator, commented: "Oracle continues to realize strategic geographic expansion opportunities. Our team works diligently to refine the standards, processes and capacity that have allowed us to serve our existing customers while maintaining a focus on future growth. Oracle has an unprecedented commitment to serve both existing and new customers in more regions than ever before. We are excited about the addition of Landmark to the Oracle family and will capitalize on this opportunity to expand to other cities in the northeast. Landmark's reputation for dependable and professional service made them an ideal fit for Oracle and we are eager to embark on the future together."

About Oracle Elevator

Based in Tampa, Florida, Oracle is the largest independent provider of elevator maintenance, repair, and modernization services operating across 45 markets in 20 states by serving the owners and managers of airports, universities, hospitals, and premier properties. Oracle's world-class corporate infrastructure combined with its state-of-the-art OTEC technician training and support facility in Dallas TX, provide a compelling reason for building owners and facility managers to partner with Oracle. The company is backed by family office investors in partnership with employee shareholders. For additional information, please visit www.oracleelevator.com.

News published on 11 february 2020 at 12:00 and distributed by: