September 17, 2025

Finnish elevator company Kone weighs bid for German competitor TK Elevator

Investing.com
Kone, a Finland-based elevator manufacturer, is reportedly considering making a bid to partially or fully acquire German elevator company TK Elevator. Kone, alongside CVC, previously attempted to acquire TK Elevator in 2020, but it was instead purchased by US and UK PE firms Advent and Cinven, who are currently exploring an IPO for the company. Kone’s consideration of a bid is in its early stages of consulting advisors and exploring financing options, but it highlights the ongoing trend of consolidation amidst intense competition, which could lead to stricter regulations amid concerns about market control. The potential move contains both benefits and risks for Kone, with industry consolidation and cost and revenue synergies being among the benefits, while the likelihood of a lengthy antitrust process and the possibility of the acquisition being blocked are among the risks. Kone currently operates across 70 countries with over 60,000 employees. TK Elevator, which reported EUR 9.3bn in
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