Madison Street Capital acted as the exclusive financial advisor in arranging a credit facility for its client, City Elevator. The transaction was announced by Charles Botchway, CEO of Madison Street Capital. Terms of the deal were not disclosed.
“It was a great opportunity for Madison Street Capital to work with City Elevator and its president, Mitchell Hellman. They have built an extremely strong brand as the leading independently-owned installer of new elevators in the New York City area,” said Botchway. “We look forward to a long working relationship with Mr. (Mitchell) Hellman and his team.”
“After spending months spinning my wheels, Charles and the Madison Street Capital team came in like a whirlwind. They were able to secure interim funding in a matter of days while simultaneously working on a long term solution to complement our growth plans,” explained Hellman. “They had a representative in my office, almost immediately, who took the time to understand our business. While this was occurring, their back office was crunching numbers and working on the interim financing.”
City Elevator is a provider of service, installation and modernization products in the elevator and escalator industry.