Transfer transactions of thyssenkrupp Elevator, which was recently acquired by a consortium of three private equity firms (Advent International, Cinven and RAG-Stiftung), have been completed.
The process that started with the contract signed by thyssenkrupp Elevator and the consortium on February 27, 2020, was closed as of July 31. “Parting with more than 50 thousand employees and the elevator business was not an easy decision for anyone; however, it was inevitable for the interests of the whole group of companies. Billions of euros of new resource empowers us to transform thyssennkrupp. From now on, we will focus our energy on achieving a considerable improvement in the performance of the remaining operations. We wish ongoing success for our colleagues in the elevator unit, and the best for the future,” said thyssenkrupp AG CEO Martina Merz.
The company, which will move to its new headquarters in Düsseldorf, Germany, in 2021, had a turnover of 8 billion Euros in 2018-2019, and 50 thousand employees worldwide. With 1.4 million units under contract, maintenance constitutes one of the most important sources of income for the company.
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