In what its president called “a tempting partnership for both firms,” Ottawa-based Seaway Elevator Consultants announced Monday it has merged with Toronto-based Solucore.
Solucore regional vice-president Ian Richardson
While terms of the deal were not released, Seaway president Ian Richardson said he is retaining “operating control locally.”
The deal gives Seaway access to Solucore’s IT in the deal, which is expected to enhance its reporting and give more immediate maintenance monitoring responses to its clients.
Meanwhile, Solucore adds to its client base, which the company says will better position it for future growth and national expansion.
Solucore’s director of strategic development, Ray Eleid, called the deal a “win-win” for both the firms and their customers.
“This allows us to build on each others’ strengths and utilize our own unique capabilities in the field of elevator and escalator consulting,” he said in a statement.
Seaway will continue to operate and service its existing contracts before eventually falling into Solucore’s Ottawa region. While Mr. Richardson said he was proud of the Seaway name and reputation, Solucore’s national presence made it more logical to for Seaway to fall under its banner. Mr. Richardson will run the region as Solucore’s regional vice-president.
Mr. Richardson called elevator consulting a “niche” industry inside the bigger elevator industry, which itself often flies under the radar.
“The boxes just go up and down and people don’t realize people make a living out of repairing and installing and inspecting,” he said.
But it is also a heavily regulated industry, and that’s where firms like Seaway and Solucore come in.
Consultants can go to the marketplace to make sure clients get something that best suits their needs. They can also do inspections, take part in accident investigations and work with architects on planning and design.
They do this based on their knowledge of all the rules and regulations governing the industry.
“The code book is over 500 pages long,” Mr. Richardson said.