thyssenkrupp Makes Swedish Acquisition

thyssenkrupp is acquiring Stockholm-based Sdiptech AB, which has a maintenance portfolio of 9,500 units, the OEM announced on February 19. Companies operating under the Sdiptech umbrella employ 115 and generated revenue of EUR30 million (US$36 million) in fiscal 2020. Subject to approval by Swedish authorities, the deal is expected to close in April. The acquisition brings thyssenkrupp’s total number of employees in Sweden to more than 250. “Sdiptech’s Swedish elevator businesses belong to the most trusted and respected elevator companies in Stockholm, and we are thrilled that they will become part of [our] elevator family and contribute to our profitable growth in the Nordic region,” thyssenkrupp CEO Peter Walker said.