Oracle Elevator Acquires Vertical Systems Incorporated

Acquisition expands Oracle’s geographic footprint to serve the Atlanta
region and surrounding markets

TAMPA, Fla.–(BUSINESS WIRE)–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.

Contacts

Oracle Elevator
Paul M. Belliveau
President & CEO
813-327-4210
pressrelease@oracleelevator.com

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