Keystone Sells VDA to Warren Equity Partners
News related to:VDA, Inc · 2 min read
CHICAGO, Oct. 5, 2026 /CourierPR/ -- Keystone Capital Management has sold its stake in VDA, Inc., a leading elevator and escalator consulting and inspection firm, to Warren Equity Partners. This sale marks a significant milestone in the growth trajectory of VDA, which has seen substantial expansion since Keystone's initial investment in 2021.
VDA, founded in 1980, has grown to become a national provider of inspection, program management, and design consulting services related to vertical transportation assets. The company serves leading real estate firms, asset owners, and blue-chip multi-site operators across various end markets. With offices across the United States and a workforce of approximately 600 professionals, VDA has established itself as a market leader in the vertical transportation inspection and advisory space.
Keystone Capital, founded in 1994, has a history of investing in high-quality businesses and building long-term value alongside management through organic growth and strategic acquisitions. Over the past five years, Keystone has worked closely with VDA, helping the company scale and become a market leader. During this period, VDA completed over 20 acquisitions, driving both organic and inorganic growth. The sale to Warren Equity Partners reflects the successful partnership between Keystone and VDA.
VDA's CEO, Gavin Campbell, expressed gratitude for Keystone's support during the company's growth.
Terms of the transaction were not disclosed. Houlihan Lokey and Citizens M&A Advisory served as financial advisors and DLA Piper served as legal advisor to VDA and Keystone Capital. Warren Equity Partners, founded in 2015, invests in companies providing mission-critical products and services supporting infrastructure and the built environment. The firm has completed over 215 transactions to date and manages $9.6 billion in assets. Warren Equity Partners will now take the reins in leading VDA's continued growth and expansion.
Keystone initially invested in VDA in 2021 and has helped VDA scale to become a market leader in the vertical transportation inspection and advisory market. VDA's substantial headcount, revenue, and geographic footprint growth since 2021 has been driven by both organic and inorganic initiatives, including over 20 completed acquisitions during its partnership with Keystone.
The sale to Warren Equity Partners underscores the continued investment in the vertical transportation sector and the strategic alignment of Warren Equity Partners with leading players in the industry. VDA's CEO, Gavin Campbell, and management team will continue to lead the company into its next phase of growth.
Keystone Capital, with over $1 billion in capital commitments across two funds, has completed over 50 platform investments and more than 200 total acquisitions with a focus on commercial & industrial services, food & beverage, industrial technology, professional services, and technical services. The firm's extended life structure supports its belief in investment period flexibility and long-term value creation.
Warren Equity Partners, with offices in Jacksonville Beach, FL; New York; Houston; and London, has a proven track record of investing in mission-critical products and services supporting infrastructure and the built environment. The firm's extensive experience and capital resources will be instrumental in VDA's continued growth and expansion.
The transaction highlights the ongoing consolidation and strategic partnerships in the vertical transportation sector, with Warren Equity Partners poised to leverage VDA's expertise and market presence to drive further growth and innovation.