TKE Considering US$22.7-Billion IPO in U.S. in 2026

Germany’s TK Elevator (TKE), the fourth-largest elevator maker in sales behind U.S.-based Otis, Switzerland’s Schindler and Finland-based KONE, is considering an initial public offering (IPO) in the U.S. in 2026, Reuters reports. The source cited three individuals familiar with the matter who wish to remain private. The U.S. accounts for approximately 35% of TKE’s total EUR9.3 billion (US$10.5 billion) 2023-24 sales, and the company is likely to be valued at more than EUR20 billion (US$22.7 billion) in an IPO. Market turmoil triggered by U.S. tariffs has slowed the pace of dealmaking, and the projected timeline is subject to change depending on market conditions. News of TKE’s potential IPO follows Saudi tech firm Alat becoming a direct shareholder with a 15% stake in the company in February, as well as launching a EUR160-million (US$181.6 million) European joint venture in Saudi Arabia. ThyssenKrupp sold its elevator division, later named TKE, for EUR17.2 billion (US$19.5 billion) in 2020 to a private equity consortium. European companies choosing the U.S. to launch IPOs — a “hotly debated topic” — is being driven by companies’ hope to get higher valuation versus than in their home countries.

Get more of Elevator World. Sign up for our free e-newsletter.

Please enter a valid email address.
Something went wrong. Please check your entries and try again.

SDSU PARKING ELEVATORS OPERATING WITH EXPIRED PERMITS

SDSU Parking Elevators Operating With Expired Permits

Grone

NEII Congratulates Grone on Retirement

SCHINDLER REFLECTS ON 2025 CHALLENGES, REWARDS

Schindler Reflects on 2025 Challenges, Rewards

Techno International Airport; image courtesy of Otis

Otis Provides 118 Units for New Cambodia Airport

Kennedy

In Memoriam: John Lee Kennedy

The renovation features new escalators and more; image courtesy of Robins & Morton.

Huntsville Airport Renovation Includes Vertical Transportation

ALIMAK’S 3Q RESULTS SHOW “RESILIENCE IN A CHALLENGING MARKET”

Alimak’s 3Q Results Show “Resilience in a Challenging Market”

ROBUST SERVICE AND MODERNIZATION BUOY KONE IN 3Q

Robust Service and Modernization Buoy KONE in 3Q