Bluestar is pleased to announce a minority investment in Integrity Elevator Solutions (“IES”). IES has rapidly become a leading independent provider of commercial elevator services in Texas and Louisiana.
HOUSTON, June 24, 2024 /PRNewswire-PRWeb/ — PWC Partners, LLC dba Bluestar Holdings (“Bluestar”), a private investment firm founded to identify and invest in private lower middle-market growth-oriented companies and real estate assets, is pleased to announce a minority investment in Integrity Elevator Solutions (“IES”). IES has rapidly become a leading independent provider of commercial elevator services in Texas and Louisiana. IES’ founder and president will continue to lead IES as it expands both organically and through acquisition. www.integrityelevators.com
Bluestar’s investment was through Del Monte Capital (“DMC”). DMC is a Texas-based, lower middle-market private equity firm with a focus on industrial services and was the lead sponsor on the transaction. DMC sought to raise a portion of its capital from Bluestar due to its deep experience in industrial services. Bluestar has had a long relationship with the principals of DMC and was pleased to have the opportunity to invest as DMC was oversubscribed on this transaction.
Based in Texas, Integrity Elevator Solutions provides commercial elevator installations, modernizations, maintenance, and repair services. IES serves diverse clients including industrial and petrochemical facilities, healthcare providers, offices, universities, and government buildings. These customers rely on IES for its responsive services, expert mechanics, and commitment to excellence.
“The elevator services industry is a space we had identified as target area for us and we were excited when DMC approached us with the opportunity,” said Mark Provine, Co-Founder and Managing Partner at Bluestar. “Our investment with DMC aligns with our minority investment strategy of investing with people we know and trust and that have a track record of success. Our long relationship with the investment professionals at DMC allowed us to provide our investors with access to a great opportunity,” said Robert Whilden, Co-Founder and Partner at Bluestar.” In conjunction with the investment, Bluestar will participate on IES’s board.
About Bluestar Holdings
Founded in 2024, Bluestar is a Texas-based, lower middle-market independent equity sponsor. Bluestar seeks to partner either directly with privately held companies or invest in or co-invest alongside other sponsors. Bluestar is seeking opportunities focused on minority investments but will also consider control positions as well. Bluestar takes a value-oriented opportunistic investment approach and is open to investments across a broad range of industries. Bluestar acts in the capacity of an Independent Sponsor and seeks to arrange investment opportunities on a deal-by-deal basis.