Ontario Teachers’ Pension Plan Board (“Ontario Teachers'”), today announced an agreement to acquire a majority stake in Vantage Elevator Solutions (“Vantage”), a leading North American designer, manufacturer and distributor of elevator components and systems. As part of the transaction, Vantage’s current owner, Golden Gate Capital, will retain a significant minority ownership stake in the company. Terms of the transaction are not being disclosed.

Vantage is a leading North American elevator component manufacturer, providing a broad portfolio of parts and components used in elevator systems, including door operators, traction machines, and controllers, among others. The company is comprised of eight business units including GAL; GAL Canada; Hollister-Whitney; Elevator Controls; Courion; Thames Valley Controls; Vertical Dimensions; and Bore-Max. Vantage supplies almost all electro-mechanical devices used in contemporary elevators to independent elevator service companies and OEM service organizations engaged in the installation, maintenance and modernization of elevators.

“We are thrilled to acquire a majority stake in Vantage. The company has a strong portfolio of brands and solid market position among elevator components manufacturers,” said Karen Frank, Senior Managing Director, Equities at Ontario Teachers’. “We are attracted to the strong resilience of the sector, as well as the growth potential in this segment. We look forward to partnering with CEO Ron Cauchi, the Vantage management team and Golden Gate Capital to support the business as it enters its next stage of growth.”

“We are excited about this new partnership with Ontario Teachers’. The company’s strong track record investing in leading diversified industrial businesses along with its active approach to value creation make it a perfect fit for us,” said Ron Cauchi, President and CEO at Vantage. “I want to thank Golden Gate Capital for their valued partnership since 2017 and am glad that they will remain a part of our ownership group as we continue to grow our business in the years to come.”

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