H.I.G. Capital Forms EverRise Lift Group Through Combination of Action Elevator and All City Elevator

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $75 billion of capital under management, is pleased to announce the formation of EverRise Lift Group ("EverRise" or the "Company"), a new elevator service and modernization platform created through the combination of Action Elevator Company ("Action Elevator") and All City Elevator ("All City"). Action Elevator and All City will continue operating with their local brands.Headquartered in Millersville, Maryland, with additional operations across the Upper Midwest through All City's Minneapolis, Minnesota base, EverRise provides maintenance, repair, modernization, and new installation services to commercial, residential, and institutional customers. Consistent with both companies' longstanding approach, EverRise will continue to utilize non-proprietary elevator equipment, providing customers with greater flexibility and control over long-term maintenance and repair needs. The combination creates one of the largest independent elevator service providers in the United States.The formation of EverRise is another example of H.I.G.'s strategy of building scaled platforms with multiple avenues for growth. H.I.G. will support EverRise's continued organic and inorganic expansion by enhancing modernization capabilities, investing further in technology, talent, and field operations, and pursuing strategic add-on acquisitions.Christopher Smith, who has served as Executive Chairman of Action Elevator since 2024, has been named Chief Executive Officer of EverRise. Mr. Smith brings more than three decades of leadership experience in the elevator and vertical transportation industry, including senior executive roles at Otis Worldwide Corporation and Schindler Elevator Corporation, where he led global initiatives spanning modernization, digital transformation, distributor strategy, and service growth. He also previously built and scaled the service organization of a private equity-backed fire and life safety company. Mr. Smith succeeds Action Elevator founder John Marshall, Sr., who will transition to Executive Chairman of EverRise and remain actively involved in supporting the Company's continued growth.Rahul Vinnakota, Managing Director and Co-Head of H.I.G. Advantage, said: "Action Elevator and All City Elevator share a common commitment to customer service, technical excellence, and the non-proprietary model that gives building owners real choice and control. Bringing these two platforms together as EverRise Lift Group accelerates our strategy of building a leading, national, independent elevator services provider. We are thrilled to have Chris leading that effort and his experience across the industry's largest operators makes him exactly the right leader for this next chapter."Christopher Smith, Chief Executive Officer of EverRise Lift Group, added, "All City Elevator's strong presence in the Upper Midwest and Action Elevator's continued momentum across the Mid-Atlantic are both rooted in an unwavering commitment to customer service, making the two companies a natural fit. Together, as EverRise Lift Group, we offer customers a broader footprint, deeper technical bench strength, and the same unwavering focus on safety, reliability, and non-proprietary equipment that our customers have always valued. I'm honored to lead this next chapter and to build a platform that our employees, customers, and partners can be proud of."

H.I.G. Capital Forms EverRise Lift Group Through Combination of Action Elevator and All City Elevator

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