M&A Deal Summary

OTIS Acquires ThyssenKrupp Elevator - South Africa Service Business

On September 7, 2015, OTIS acquired business services company ThyssenKrupp Elevator - South Africa Service Business from TK Elevator

Acquisition Highlights
  • This is OTIS’s 2nd transaction in the Business Services sector.
  • This is OTIS’s 1st transaction in South Africa.

M&A Deal Summary

Date 2015-09-07
Target ThyssenKrupp Elevator - South Africa Service Business
Sector Business Services
Buyer(s) OTIS
Sellers(s) TK Elevator
Deal Type Divestiture

Target

ThyssenKrupp Elevator - South Africa Service Business

South Africa
ThyssenKrupp Elevator's local South Africa service business maintains and services elevators, escalators and moving walkways.

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Buyer(S) 1

Buyer

OTIS

Farmington, Connecticut, United States

Category Company
Founded 1853
Sector Machinery
Employees72,000
Revenue 14.3B USD (2024)
DESCRIPTION
Entrance to Otis Elevator's corporate headquarters in Farmington, Connecticut.
Entrance to Otis Elevator's corporate headquarters in Farmington, Connecticut.

OTIS is a manufacturer and maintainer of people moving products, including elevators, escalators, and moving walkways. OTIS was formed in 1853 and is based in Farmington, Connecticut.


DEAL STATS #
Overall 4 of 5
Sector: Business Services M&A 2 of 3
Type: Divestiture M&A Deals 2 of 2
Country: South Africa M&A 1 of 1
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Axis Elevators

London, United Kingdom

Axis Elevators offers a competent, prompt, and professional service to building owners, Building Managers, and Professionals in the fields of New Lifts, Preventative Maintenance, Reconstruction, Partial Modernisation, predominantly from offices in London and Andover (Hampshire). Axis Elevators was founded in 1989 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 Bay State Elevator

Agawam, Massachusetts, United States

Bay State Elevator Company provides elevator installation, maintenance, and service in Massachusetts, New York, Connecticut and Vermont. With 6 offices across 4 states, Bay State Elevator is able to maintain 4,000 elevator units.

Buy -

Seller(S) 1

SELLER

TK Elevator

Düsseldorf, Germany

Category Company
Founded 1864
Sector Machinery
DESCRIPTION
ThyssenKrupp elevator service vehicle in Duluth, Minnesota.
ThyssenKrupp elevator service vehicle in Duluth, Minnesota.

TK Elevator is a global provider of elevators, escalators, and other innovative passenger transportation solutions. TK Elevator was founded in 1864 and is based in Dusseldorf, Germany.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: South Africa M&A 1 of 1
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-08 Lift and Engineering Services

Cradley Heath, United Kingdom

Lift and Engineering Services Ltd. specialises in the design and manufacture of all types of lift equipment and drive systems to meet site conditions or customer specifications. LES also provides comprehensive maintenance, repair, and emergency response services for any make of lift, escalator, or hoisting equipment, and has a specialist team of engineers dealing with mobility access equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 O Keefe Elevator Co.

Omaha, Nebraska, United States

O'Keefe Elevator Co., Inc. is a full-service elevator company serving Nebraska and Iowa.. O'Keefe Elevator was founded in 1919 and is based in Omaha, Nebraska.

Buy -