Axxiom Elevator (“Axxiom”), a fast-growing provider of elevator maintenance, repair and modernization services, has recently completed a partnership with Florida-based Motion Elevator and the Florida division of Urban Elevator. Established in 1995, Motion has grown into a leading independent elevator company in Miami, Fort Lauderdale, and the Palm Beaches. Axxiom also recently purchased the Florida division of Urban Elevator and will be merging their Southeast Florida operations with Motion Elevator and creating a new Axxiom Elevator office on the West coast of Florida.
“We are excited to build the Southeast division of our elevator platform around Motion Elevator,” says Jeremy Metzger, Chief Executive Officer of Axxiom. “As we expand our footprint across various key regions in the United States, the addition of Motion Elevator and Urban Elevator Service Florida underscores our commitment to continued growth and serving the increasing technical and specialized needs of the elevator and escalator industry. Motion Elevator has been a staple in the Southeast Florida market for almost 30 years and it is our intent to continue to service all our customers with the same level of dedication that they have always received.”
Rose and Joe Portelli, owners of Motion Elevator, remarked “We are thrilled to become part of Axxiom and look forward to building upon the relationships and legacy established over the past 30 years. Axxiom and Motion share the same values and the relentless commitment to exceeding expectations and ensuring the success of our employees and customers.”
Axxiom Elevator completed its investment in Motion Elevator and Urban Elevator Service FL with financial backing from Gauge Capital. Ropes & Grey served as Axxiom’s and Gauge Capital’s legal counsel on the transactions. Maven Group served as financial advisors to both, Motion Elevator and Urban Elevator Service FL in their respective transactions.
Rose and Joe Portelli added “We entrusted Maven Group with this transaction because we have known Dominik Sachsenheimer for 10 years. By drawing on his extensive network of industry professionals, he connected us with potential partners we would not have known to contact otherwise. We never imagined getting the opportunity to become the platform investment for an exciting new venture like Axxiom Elevator. Maven’s Carson Bombara calmly guided us through the diligence process, and we could not have closed this deal without Maven Group expertly navigating all the challenges inherent in a transaction of this size.”
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About Axxiom Elevator
Axxiom is a newly established elevator company headquartered in Fort Lauderdale, FL. Axxiom specializes in service, repair, modernization and installation of elevators and escalators. They offer a wide range of elevators solutions for various applications, including commercial, residential, and industrial buildings. Axxiom focuses on providing high-quality services, ensuring safety, reliability, and efficiency in all their service offerings.
About Gauge Capital
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas. Gauge invests in five key sectors: business services, food & consumer, government & industrial services, healthcare, and technology. The Firm manages more than $2.0 billion in capital and in 2020, 2021 and 2022, Inc. Magazine named Gauge one of the top private equity firms for founders. In 2021, 2022, and 2023 Gauge was also named to the Top 50 PE Firms in the Middle Market by Grady Campbell. In 2022, Gauge ranked in the top 5 out of 517 private equity firms in the HEC Paris – Dow Jones Small-Cap Buyout Performance Ranking.
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