KONE Agrees to Acquire Sacramento-Based Capitol Elevator

KONE announced it has entered into an agreement to acquire Sacramento, California-based Capitol Elevator, a family-owned and -operated business that has been in the elevator industry for more than 50 years. The strategic acquisition brings Capitol Elevator’s expertise and exceptional customer service reputation together with KONE’s global brand, comprehensive portfolio and wide market reach, KONE stated. KONE Americas Executive Vice President Ken Schmid said Capitol Elevator, the oldest independent elevator company in California, is a “perfect fit for KONE.” Welcoming the Capitol Elevator team, Schmid observed: “Their expertise, commitment to excellence and dedication to putting the customer first aligns perfectly with KONE’s priorities.”