American Elevator Group (“AEG”) today confirmed their acquisition of Madden Elevator (“Madden” or “the Company”), further expanding their service portfolio across the United States.
Madden Elevator has been serving Louisville and the surrounding districts of Kentucky and Indiana for over a decade. Founder and CEO Sean Madden welcomed the opportunity to become a part of AEG’s growing network of service providers, saying “We have experienced strong growth as an independent elevator service provider and now, as part of AEG’s impressive business portfolio, we can further build upon our strong foundation.”
Bryan Clairmont, recently appointed President of American Elevator Group, welcomed Sean and the Madden team, commenting “Madden is a highly respected Kentucky service business, and a valued addition to our team. I am excited to have them join American Elevator Group.”
Sean Madden thanked Maven Group for facilitating the transaction as sell-side advisor, adding “Working on this merger in times of general economic uncertainty and tightening credit markets added various layers of complexity to the always demanding processes of diligence and closing a transaction. We couldn’t have mastered these tasks without Maven Group’s measured mitigation and advice which ultimately helped all parties achieve their respective goals.”
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About American Elevator Group
American Elevator Group is a collective of trusted, highly reputable, select elevator
service companies. Their key focus is to deliver exceptional customer value while
covering all industry specialisms, from legacy maintenance and repair services to
high technology installations and modernizations.