Axis Elevators

In 2005 we backed the incumbent management team to buy this lift installation and maintenance business from its shareholders

Over ten years, we worked closely with management to improve shareholder value, through appropriate investing in the business, recruiting the right people, professionalising the operations, and also integrating a bolt-on acquisition made in 2008 which gave the enlarged business a far greater geographical presence

In 2015, having more than tripled Axis’ profits, the management team expressed a desire to realise their investment. The entire business was sold to Otis, part of the NYSE-quoted group, United Technologies Corporation