CEO, 3Phase Elevator
"Working with an experienced team like Fort Point Capital was absolutely critical in 3Phase’s success. The team immediately identified opportunities to scale the business and provided support in building out the management team, professionalizing the infrastructure, and developing our marketing and sales strategy. Fort Point’s ability to uncover M&A opportunities and drive inorganic growth was also crucial in turning 3Phase into one of the largest independent service providers in our industry. I am proud of what we were able to accomplish together during our partnership."
3Phase is a leading independent vertical transportation service provider. Fort Point was initially introduced to 3Phase in late 2017. At the time, 3Phase was a local independent elevator and escalator services provider operating in the Boston Metro Area. 3Phase’s owners had spent the better part of two decades growing the business and were seeking to identify a partner who could maintain the Company’s service centric culture, and help grow it to new heights.
Fort Point Capital completed the recapitalization in April 2018, acquiring a majority stake in partnership with the co-owners. We identified an experienced CEO candidate in Mike Strachan, who was working as an outside consultant for 3Phase at the time, to lead the Company following the transaction. Fort Point enabled the business to professionalize infrastructure, build a talented management team, integrate six follow-on acquisitions, and expand into 13 additional states.
Senior Management Team
- Helped to identify and recruit a deep, talented management team, hiring a CEO, CFO, COO, and District Branch Managers to lead regional operations
- Recruited outstanding independent directors with relevant industry experience to provide support at the board-level
Operations & Infrastructure
- Upgraded systems and developed proactive pipeline and backlog management and tracking systems
- Introduced dynamic route optimization and data analysis tools to efficiently service customers with scale
- Transitioned to a new corporate HQ in Canton, MA to accommodate the Company’s growing headcount, while adding regional satellite offices to support operations from Maine to Florida
Developed Formal Sales & Marketing Strategy
- Worked with management to professionalize sales organization, introduce new sales incentive programs and process improvements
- Landed and expanded relationships with blue-chip national customers
- Completed and fully integrated six strategic add-on acquisitions, with two additional add-ons under Letter of Intent at the time of sale
- Identified opportunities to strategically enter new markets where the Company could develop an established brand and a mature operational footprint
During Fort Point’s ownership, 3Phase grew to become one of the largest independent vertical transportation service providers in the United States, and the acquisition partner of choice for like-minded and service-oriented independents. With the support of Fort Point, 3Phase’s employees and management team were successful in growing revenue and earnings by more than 500% over the course of the partnership. In June 2021, Fort Point Capital sold 3Phase to Berkshire Partners, a Boston-based private equity firm.