Midstates Elevator of Mishawaka, IN, Acquired by Phoenix Modular Elevator of Mount Vernon, IL 

MISHAWAKA, Ind. - April 20, 2026 - PRLog -- Calder Capital, a nationwide Mergers and Acquisitions Advisory firm, is proud to announce the successful acquisition of Midstates Elevator of Mishawaka, Indiana, by Phoenix Modular Elevator of Mount Vernon, Illinois.

Founded in 1985 by Dennis Gadacz as Michiana Lift Equipment, Midstates Elevator Company is a trusted provider of elevator installation and service across Indiana. The Company specializes in residential elevators, material lifts, platform lifts, wheelchair lifts, and dumbwaiters. As Dennis prepared for retirement to spend more time with his family, he engaged Calder Capital's Sell-Side team to find a buyer committed to preserving the Company's legacy and supporting its next phase of growth.

Phoenix Modular Elevator ("PME"), a nationally recognized manufacturer and installer of modular elevator systems, acquired Midstates Elevator Company as part of its continued growth strategy.

Scott Nicholson of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Midstates Elevator. Serving as Lead Analyst was Riley Hagen of Calder Capital.

Calder's Sell-Side team generated strong market interest throughout the sale process, distributing 158 Confidential Information Memorandums (CIMs) to qualified buyers and receiving six offers. Overall, the sale process was completed in four months, with the transaction closing just two months after the Letter of Intent was signed.

Gadacz stated, "Calder did a fantastic job in lining up potential buyers for my 40-year-old business. They were thorough, precise, and extremely professional on all levels! I had a specific type of buyer in mind and expressed my concerns in finding this ideal candidate, but undaunted in their search, they delivered the perfect candidate/buyer that met my expectations. I am grateful for their due diligence on behalf of both parties."

Allgaier shared, "It was a pleasure to work with Scott and Calder Capital, particularly once we got out of the initial automated emails loop and started actually talking. Scott was well-informed and responsive, and helped make things go smoothly."

"Calder Capital has a long track record of helping service business owners achieve successful exits, and this transaction demonstrates how a focused, well-run process can deliver strong outcomes for all parties," commented Garrett Monroe, Calder's Sell-Side Managing Director.

Calder Capital served as the Exclusive Sell-Side (https://caldergr.com/our-services/for-sellers/) Mergers and Acquisitions Advisor to Midstates Elevator Company.

To learn more about Midstates Elevator Company, please visit MidstatesElevatorCompany.com.

To learn more about About Phoenix Modular Elevator, please visit PhoenixModularElevator.com.