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Thyssenkrupp sells elevator division for $20.4bn

Thyssenkrupp closed a $20.4bn (EUR 17.2bn) sale of its elevator division to two private equity firms – Cinven and Advent, the company announced last Friday.

TK Elevator is considered the world’s fourth biggest elevator business:

  • Specializes in providing elevators, escalators, and other passenger transportation solutions to clients in more than 100 countries
  • Currently operates in over 1000 locations
  • The group generated revenues of $9.38bn (EUR 8bn) in 2018/2019

Source: Private Equity Wire


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