TK Elevator acquires Nordic Lift and further strengthens its market position in Sweden
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TK Elevator acquires Nordic Lift from Pegroco Invest
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With a service portfolio of approximately 9,000 units in western Sweden, Nordic Lift focuses on the lifts’ entire life cycle from new installations to modernization and service
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Following the acquisition of Sdiptech’s elevator operations in Sweden last year, Nordic Lift marks another acquisition to expand TK Elevator’s market presence in the country
Düsseldorf, 21 July 2022 – TK Elevator, one of the global innovation and market leaders in the elevator industry, takes another major step to strengthen its operations in Sweden. The company will acquire Nordic Lift from Pegroco Invest. With a strong footprint of approximately 9,000 units under maintenance in western Sweden, Nordic Lift is ranked as one of the top players in the elevator industry in Sweden through its operating companies, all of which have prominent positions in their respective regions. Ever since Pegroco Invest first acquired the business in 2016, Nordic Lift has grown continuously, both organically and through further acquisitions. Based on a strong business model, Nordic Lift focuses on the entire product life cycle from new installations and modernization to service and maintenance of elevators. In addition to lifts, their product portfolio includes the distribution of stair lifts and other mobility solutions for the home.
Following TK Elevator’s previous acquisition of Sdiptech’s elevator operations in 2021, Nordic Lift will significantly expand TK Elevator’s market position and service network in Sweden. “We are convinced that Nordic Lift is an advantageous extension of our regional footprint that will guarantee proximity to our customers and thereby contribute to our continued growth path in Sweden,” says Inge Delobelle, CEO of TK Elevator Europe Africa.
The transaction is subject to the Swedish Competition Authority’s approval.
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ABOUT US
TK Elevator
With customers in more than 100 countries served by more than 50,000 employees, TK Elevator achieved sales of approximately EUR 8 billion during the 2020/2021 financial year. Over 1,000 locations around the world provide an extensive network that guarantees proximity to customers. In recent decades, TK Elevator has established itself as one of the world’s leading elevator companies and has become independent since the separation from thyssenkrupp AG in August 2020. The company’s most important business area is the service business represented by over 24,000 service technicians. The product portfolio covers product lifts for residential and commercial buildings to pioneering, highly adapted solutions for state-of-the-art skyscrapers. In addition, it also consists of escalators and movable walks, passenger bridges, stairwells and platform lifts. Integrated cloud-based service solutions, such as the MAX platform, are becoming increasingly important. With these digital offerings, there are no limits to urban mobility anymore. TKE – go beyond.