Seale & Associates Advises United Technologies Corp. (NYSE:UTX) in divestiture of Unitec Elevator
NEW YORK, NEW YORK - Seale & Associates, Inc. announced that it acted as exclusive financial advisor to United Technologies Corporation (NYSE:UTX) and its Otis Elevator Company segment on the sale of Unitec Elevator, a leading provider of elevator maintenance, modernization, and code compliance services, to Pacific Avenue Capital Partners, LLC.
"We are pleased to have had the opportunity to assist United Technologies and Otis on this important transaction and on their continued portfolio realignment" said Robert Whitney, Managing Director at Seale & Associates.
Unitec Elevator is one of largest and most experienced providers of elevator maintenance, modernization, and code compliance services in New York City and the surrounding boroughs. Unitec Elevator serves over 2,600 elevators under maintenance with more than fifty-five active modernization projects. Unitec’s management is supported by more than forty dedicated maintenance teams, seventeen testing and repair teams, and sixty modernization technicians.
United Technologies Corporation, headquartered in Farmington, Connecticut, provides high technology products and services to the building and aerospace industries. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; and offers modernization products to upgrade elevators and escalators, as well as maintenance and repair services.
Pacific Avenue Capital Partners, LLC headquartered in Los Angeles, California, is a private investment firm that is focused on corporate divestitures and other special situations in the lower middle market. Pacific Avenue acquires controlling interests in businesses across multiple industries including industrials, business services, healthcare services, and building products.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients’ most complex dealings. For more information, please visit www.sealeassociates.com.