Elevator Doors Inc., Elevator Cabs Inc. has been recapitalized by an affiliate of Monarch Capital Advisors, LLC

 
Elevator Doors Inc., Elevator Cabs Inc. has been recapitalized by an affiliate of Monarch Capital Advisors, LLC

de Visscher & Co., a leading financial advisor to family businesses and single family offices, is pleased to announce that it advised the owners of Elevator Doors Inc., Elevator Cabs Inc., ("EDI/ECI") in their new partnership with a private family investment firm Monarch Capital Advisors LLC, ("MCA").

About EDI/ECI

Controlled by the Aveni family and headquartered in Paterson, NJ, EDI/ECI is one of the nation's leading manufacturers of custom elevator cabs and entrances for the Elevator, Construction and Real Estate markets. EDI/ECI's services also include design renderings, elevator cab remodeling, elevator entrance installation, metal refinishing, antique restoration, historic reproduction and replacement hoistway doors.

About EDI/ECI
   
EDI/ECI CEO and majority shareholder Tom Aveni said

EDI/ECI CEO and majority shareholder Tom Aveni said,

"This partnership was carefully planned and executed to build on our company's proud 70-year legacy. This marks the culmination of a multi-year succession plan that will help ensure our continued success for generations to come.

"de Visscher & Co. took the time to learn the Company's business and potential and to understand the shareholders' objectives to find a long-term, value-added partner in MCA."
 

About MCA

MCA is a family investment firm with headquarters in Greenwich, CT. The principals of the firm have over thirty years of experience both investing in and advising businesses from startup to large corporations. MCA is focused on the long-term and has selected a buy, grow and hold strategy that offers sellers the potential for short- and long-term stability for their business post-transaction.

"We are very excited to partner with experienced and respected industry veterans like Tom, Paul and their talented team," said Jonathon Packard, a partner at MCA. The recapitalization brings in the additional financial resources needed to build on the company's unsurpassed, decades long legacy for quality and innovation. We plan to continue to grow and enhance EDI/ECI by focusing on product quality and customer service," he added. "This investment fits perfectly with MCA's philosophy of investing in leading businesses and partnering with successful business owners to continue to build fundamental value in the existing enterprise."

 

 

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