In a major business move, private investor Rcapital has completed the acquisition of Temple Lifts Ltd., a renowned lift maintenance company based in Bromley, Greater London, from Hitachi, Ltd.
Temple Lifts Ltd., led by Mark Jones, Ashley Greensmith, and Mark Kane, is known for its comprehensive services that span installation, maintenance, and modernisation of lifts. The company’s team of specialists caters to a diverse range of buildings, from two-storey care homes to high-rise commercial and residential blocks. Along with lifts, they also maintain and modernise escalators to ensure safe and reliable passenger movement.
Operating from Havant and Stoke on Trent, Temple Lifts serves clients nationwide. The company currently has approximately 5,000 lifts and escalators under maintenance contracts, supporting customers across multiple sectors.
Hitachi, which acquired the business in 2017, has now sold it to Rcapital. The new ownership promises a fruitful partnership with the current management team, aiming to deliver a growth plan and build a stable business. As part of this strategic move, Rcapital has introduced senior sector expertise from the industry to help accelerate growth and drive operational improvements.
This acquisition marks Rcapital’s second carve-out deal of 2023, demonstrating its continued investment in growth and innovation. The acquisition is set to bolster Temple Lifts’ position in the UK market and presents new opportunities for growth and development.