Los Angeles, CA — September 12, 2019 – Unitec Elevator (“Unitec” or the “Company”), a portfolio company of Pacific Avenue Capital Partners (“Pacific Avenue”), named experienced executive Charles Veniez as Board Member and Operating Partner. The appointment comes following Pacific Avenue’s recent acquisition of Unitec from Unitec Technologies Corp. (UTX).
“We are thrilled that a leader of Charles’ caliber is joining the Unitec Board and will take an active role in managing the business” said Chris Sznewajs, Chairman of the Board of Unitec and Founder and Managing Partner at Pacific Avenue. “I have known Charles for nearly a decade and I could not be more excited to be working alongside him again at Unitec. Charles’ extensive experience with service centric organizations, long-term focus, and willingness to roll up his sleeves will be terrific assets as we carve out Unitec from United Technologies. Charles was involved in the original due diligence of the transaction and invested alongside Pacific Avenue Capital in Unitec.”
Unitec Elevator is one of largest and most experienced providers of elevator maintenance, modernization, and code compliance services to New York City and the surrounding boroughs. Unitec has grown to serve over 2,600 elevators under maintenance contracts with more than fifty-five active modernization projects. The Company’s management team is supported by more than forty dedicated maintenance teams, seventeen testing and repair teams, and sixty modernization technicians.
Charles’ will take an active role in the business while working alongside the existing management team to accelerate growth.
“I am honored to work with the Unitec team in order to build on the Company’s outstanding reputation for safety and reliability.” He continued, “Chris and the team at Pacific Avenue Capital have been great partners and I look forward to building on our already extensive relationship.”
Charles Veniez’ depth of experience is exemplified by numerous executive leadership roles, including most recently as President and CEO Industrial Container Services (a Centerbridge Portfolio company), President and CEO of Norment Security Group (a Gores portfolio company), and President and General Manager of United Technologies Fire & Security Division. Charles holds a Master’s in Business Administration from Queen’s University, Kingston.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners, LLC, founded by Chris Sznewajs, is a Los Angeles-based private investment firm that is focused on corporate divestitures and other special situations in the lower middle market. Our extensive M&A and operations experience allows us to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. Our senior team has closed over 50 transactions, including 25 corporate divestitures, across a multitude of industries. Through our collaborative approach, we partner with strong management teams to drive strategic change and assist businesses in reaching their full potential. Pacific Avenue acquires controlling interests in businesses across multiple industries including industrials, business services, healthcare services, and building products. Pacific Avenue’s current portfolio companies have more than $950 million in combined revenue. For more information, please visit www.pacificavenuecapital.com.
Pacific Avenue Capital Partners