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