July 20, 2019

Press release

Oracle Elevator Acquires Vertical Systems Incorporated

| 10/10/2018

TAMPA, Fla. --Oracle Elevator (“Oracle” or the “Company”) is pleased to announce its acquisition of Vertical Systems Incorporated. Based in Atlanta, GA, Vertical Systems provides elevator maintenance, repair and modernization services and will enhance Oracle’s position as the leading independent alternative to the multinational elevator manufacturers. The acquisition represents Oracle’s 7th acquisition since 2017.

“Over the past 18 years, Vertical Systems has provided superior elevator service through top-tier people,” said Bob Hardison, owner of Vertical Systems. “We were approached by Oracle Elevator Company and met with Paul Belliveau and his team. We immediately discovered Oracle shares the same core values as Vertical Systems. Today, Vertical Systems begins transitioning to Oracle’s new Atlanta branch providing great service and the same team, now with deeper technological and equipment resources.”

Oracle will leverage its technical knowledge and highly skilled workforce to expand regional coverage in surrounding states, such as Tennessee, Alabama and the Carolinas. The integration will be led by Jeff Hanson, Oracle's Midwest Regional Vice President, and Craig Jones, Oracle's Director of Acquisitions. Oracle has expanded its internal business development team as it accelerates M&A activity to provide a smooth transition for all parties involved – Vertical Systems, Oracle, and the customers of both companies.

“We are very excited about our partnership with the Vertical Systems team,” said Paul Belliveau, President and CEO of Oracle. “The acquisition strengthens our dominant market position in the Southeastern United States and provides an opportunity to expand our presence in surrounding states. Our goal is to be the partner of choice for independent elevator companies when it is time for them to pursue a sale. We are excited about our recent growth and look forward to leveraging Vertical Systems quality technicians to provide superior customer service to our growing geographic footprint.”

Serving 35 markets in 14 states, Oracle is the largest independent provider of elevator maintenance, repair, and modernization services across all major brands of equipment. Since its founding, Oracle has completed 27 acquisitions of independent elevator companies. Oracle’s world-class corporate support functions combined with its planned state-of-the-art training facility provide a compelling reason for independent elevator companies to partner with Oracle. Acquisitions remain an important factor in Oracle’s aggressive national expansion strategy to become a legitimate alternative to the multinational OEMs.

About Oracle Elevator

Oracle is the leading independent non-union provider of elevator maintenance, repair, and modernization services across all major brands of equipment. The Company was founded in 2004 and currently serves 35 markets in 14 states. Oracle is backed by family office investors in partnership with employee shareholders. For additional information, please visit www.oracleelevator.com.

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