Minnesota Elevator, Inc. (“MEI”), a leading manufacturer of custom engineered-to-order elevator packages, is proud to announce its acquisition of Smart Elevator Tech, LLC, a premier provider of elevator pit ladders and related components. This strategic acquisition strengthens MEI’s commitment to providing comprehensive elevator solutions while reinforcing its position as a top-tier supplier in the elevator industry. Maven Group served as advisors to Smart Elevator Tech, terms of the transaction were not disclosed.
MEI President Rick Lowenberg described Smart Elevator Tech as a “strong strategic fit” for MEI’s business. “The acquisition of Smart Elevator Tech enhances MEI’s offerings through our parts sales division and provides a solution to meet ongoing code-required changes related to safe access to elevator pits,” said Lowenberg.
Smart Elevator Tech was founded in 2010 by Rich Blaska and has been owned and operated by Blaska and Margaret Lourenço, President of Smart Elevator Tech, widely known in the industry as “The Ladder Lady.” Together, they have built a reputation for exceptional customer service and high-quality, reliable products trusted by elevator contractors, manufacturers, architects, consultants, and general contractors across North America. Smart Elevator Tech offers a wide range of elevator pit ladder options, along with additional hoistway components designed to meet virtually any code requirement. Blaska and Lourenço will continue to be involved in the business as MEI integrates Smart Elevator Tech into its operations, ensuring continuity and maintaining the high level of service customers have come to expect.
Lourenço and Blaska commented “Maven Group played a crucial role in this transaction. We selected them as our advisors because we liked their open, analytical and creative approach to any topic we discussed with them throughout conversations spanning multiple years. Maven helped us put together strong marketing materials and ran a process involving various well-known and qualified potential buyers, which ultimately enabled us to partner with MEI as the best fit for our specific goals.”
About Minnesota Elevator, Inc.
Founded in 1971, Minnesota Elevator, Inc. specializes in the manufacturing, installation, modernization, and maintenance of a wide range of elevator systems. MEI-manufactured equipment is installed in nearly every U.S. state and Canadian province, as well as in several international markets. In addition, MEI’s Field Operations division services approximately 10,000 elevators across much of the Midwest.
www.meiusa.com
To learn more about Maven Group, LLC, please contact us directly:
Dominik Sachsenheimer (561) 225-3320, dominik@mavenelevator.com
Carson Bombara (860) 899-8545, carson@mavenelevator.com
Bill Beaury (239) 253-4500, bill@mavenelevator.com
www.mavenelevator.com
