Acquiring Company
Kone Oyj
Acquired Company
TK Elevator
HelsinkiTransportationDescription
Kone Oyj has announced its plan to acquire TK Elevator for €29.4 billion ($34.4 billion). The acquisition aims to create the world's largest elevator manufacturer, enhancing Kone's market position, especially in the U.S. regulatory scrutiny from the U.S. Justice Department is currently impacting the transaction timeline, expected to close no earlier than Q2 2027.
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Based on deal dataFrequently asked
Who acquired TK Elevator?
TK Elevator was acquired by Kone Oyj, based in Helsinki. The deal was reported on August 11, 2026. Kone Oyj designs, manufactures, and services elevators, escalators, and automatic building doors worldwide. The company operates in three main segments: New Equipment, Service, and Modernization. Kone Oyj is privately held.
When did Kone Oyj acquire TK Elevator?
Kone Oyj's acquisition of TK Elevator was reported on August 11, 2026. Kone Oyj has announced its plan to acquire TK Elevator for €29.4 billion ($34.4 billion). The acquisition aims to create the world's largest elevator manufacturer, enhancing Kone's market position, especially in the U.S. regulatory scrutiny from the U.S. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does TK Elevator do?
TK Elevator (TKE) is a global leader in vertical transportation and urban mobility. The company specializes in providing advanced elevator and escalator technology. TKE focuses on innovation, sustainability, and customer success. It is privately held, operating in Transportation.