Bird & Bird advises TK Elevator on its acquisition of Sdiptech’s Swedish elevator operations
Mar 01 2021
Bird & Bird has assisted TK Elevator, a global urban mobility leader, in the acquisition of Sdiptech’s Swedish elevator operations. The target companies have a strong reputation for high-quality service and modernization, with a maintenance portfolio of approx. 9,500 units in the Stockholm area. The acquisition significantly expands TK Elevator’s service network in Sweden and strengthens its position in the Nordic market.
TK Elevator has more than 50,000 employees serving customers in over 100 countries. The company’s most important business line is its service business, with approximately 1.4 million units under maintenance and over 24,000 service technicians globally. The product portfolio covers commodity elevators for residential and commercial buildings to cutting-edge, highly customized solutions for state-of-the-art skyscrapers. In addition, it also consists of escalators and moving walks, passenger boarding bridges, stair and platform lifts, as well as tailored service solutions such as MAX, the industry’s first cloud-based digitally enhanced maintenance solution.