Triton Consolidated, Inc. Acquires Triton Elevators

    LANCASTER, TX, April 13, 2016 /24-7PressRelease/ -- Triton Consolidated, Inc., announces the acquisition of Triton Elevator, LLC in Lancaster, Texas. Triton Elevator historically has been a diversified elevator parts and accessory company specializing in cab and accessory segment of the business. Triton Elevator has recently announced the expansion into the manufacturing of residential elevator and the General Service Equipment ("GSE") for the Aviation Industry.

Residential Lifts are small low-rise two to three stop elevators, in what is known as the residential, multi-family, church, and school segment of the industry. The national demand from this product is high since the Large Multi-National OEMs (MNO) moved away from this market in favor of Class A Commercial Maintenance business during the last recession.

Triton's aviation products are being developed to satisfy a lack of manufacturers that can respond to the demand for products in the market. The Ground Support Equipment catalog of products will capitalize on the current Triton lift technologies with minimum technical adaption for several applications. There are very few providers of products to fill this market niche and those that are being provided are at a high price point for the level of service and technology offered. These items have a shorter life cycle than elevator systems, and are normally replaced every 5 to 7 years. With their high use rates and tough service, the spare parts sales are also promising.

According to Paul O. Williams, Chairman of the Board of Triton Consolidated, Inc., "This acquisition has launched the company into a major recruiting effort to expand the breadth and depth of our management team, board of directors and advisory board." Williams also explained that, "Because of the additional planned expansion, we are also currently considering new opportunities for increased access to both debt and equity capital to help facilitate this growth." Williams also explained that, "Because of the additional planned expansion, we are also currently considering new opportunities for increased access to both debt and equity capital to help facilitate this growth."

"The acquisition of Triton Elevator will allow us the opportunity to move rapidly into the residential elevator and component manufacturing arena that shows a consistent void in the marketplace on a national level," says Derald Armstrong, COO, Triton Elevator.

About Triton Consolidated, Inc.
"Triton Consolidated, Inc. in Lancaster, Texas is the holding company that has acquired Triton Elevator, LLC and is currently expanding into the residential elevator and aviation industry lift equipment business".

About Triton Elevators, LLC.
Triton Elevator is a Texas based elevator manufacturing company dedicated to providing exceptional fabrication and design services for all elevator architectural product requirements. Focusing on new cabs and existing cab remodeling, the firm is equipped with a full range of highly skilled technicians and state of the art equipment. Having completed more than 2000 projects, its design teams are dedicated, creative, and detail oriented. Since beginning operations, Triton Elevators has built a good reputation and an outstanding portfolio filled with commercial projects.

# # #