Newport Beach, CA, November 19, 2019 – Oracle Elevator is pleased to announce its acquisition of Duncan Entrance Systems. Based in South Florida, Duncan Entrance Systems provides automatic door installation, repair and modernization services. This strategic acquisition will now expand Oracle’s service range beyond elevators and escalators and into automated building entrances. This combination will be offered to airports, hospital, universities, and hotels. The acquisition represents Oracle’s 31st acquisition since 2004.
Justin Duncan, founder and CEO of Duncan Entrance Systems, had this to say about the acquisition: “I began my career in the elevator industry by working for several OEM’s after serving in the US Army. I was attracted to the door business due to its similarity to the elevator business. I chose to start Duncan Entrance Systems in 2014 to serve the South Florida market, steadily increasing the business every year including several marquis customers. When I was approached by Oracle with an opportunity to help expand their service capabilities to include automatic doors, I was excited by the opportunity to combine the experience I had in both elevators and automatic doors. I have defined my professional career as being a trailblazer, and I am excited to lead Oracle on this journey.”
Oracle will retain and utilize Duncan’s current staff of skilled technicians along with Oracle’s experienced elevator technicians to provide service and installation of automated entrances. Oracle will cross train and certify their elevator technicians to work on this new combined offering. As the Director of Oracle Entrance, Justin Duncan will lead the automated entrance service expansion initiative in each of Oracle’s 42 service markets across the United States. Duncan will report to Paul M. Belliveau, President and CEO of Oracle Elevator, who was also a past President and CEO of ASSA ABLOY Entrance Systems. The transaction of Duncan was completed by Craig Jones, Oracle Vice President of Corporate Development. Acquisitions remain an important factor in Oracle’s aggressive national expansion strategy and has expanded its internal business development team as it accelerates M&A activity to provide a smooth transition for all parties involved.
“Growth into the automatic door business is a natural fit for Oracle. With this acquisition, we will increase our capabilities with our customers who have automated entrances. We will utilize our multi-skilled workforce to service this equipment, which operates very similar to elevator doors. For us, Oracle Entrance is a logical first step in the development of other future service offerings.” Said Paul M. Belliveau, President and CEO of Oracle Elevator. “As the nation’s largest independent elevator company, we will continue to change the landscape of the traditional elevator service market. This is an exciting day for Oracle Elevator and our new Entrance division.”
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About Oracle Elevator
Based in Tampa, Florida, Oracle is the largest independent provider of elevator, escalator and entrance maintenance, repair, and modernization, services 42 markets in 17 states, serving the owners and managers of airports, universities, hospitals, and premier properties. Since its founding in 2004, the company has completed 31 acquisitions of independent elevator, escalator and entrance systems companies. Oracle’s world-class corporate support functions combined with its state-of-the-art technician training and support facility, OTEC in Dallas TX, provide a compelling reason for building owners to partner with Oracle. Oracle is backed by family office investors in partnership with employee shareholders. For additional information, please visit www.oracleelevator.com.
About L Squared Capital Partners
L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 60 years of combined experience investing in growing private companies.
For additional information, please visit www.LSquaredCap.com.
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